Top Exporters of Petroleum Gases and Other Gaseous Hydrocarbons

In 2023, Qatar led in petroleum gas exports, achieving a trade value of $35.16 billion, followed by Norway at $20.69 billion. Notably, the U.S. and Australia almost tie, reporting $13.21 billion and $13.79 billion respectively. Algeria and Malaysia have shown competitive figures, with Algeria reaching $11.79 billion and Malaysia at $8.29 billion. Canada and Indonesia contribute notable shares with $7.8 billion and $7.04 billion respectively. Although lower, Germany and Belgium's export values of $5.69 billion and $4.56 billion still play significant roles in the global market.

From 2022 to 2023, Norway witnessed the most notable year-on-year growth. However, Qatar remains a leader with a robust five-year CAGR, driven by its expansive LNG projects. Algeria also made significant progress, supported by strategic partnerships and investments in infrastructure over five years.

Future trends to be watched include:

• Potential impact of global energy transition policies aimed at reducing fossil fuel dependency.
• Technological advances and investments in LNG that may shift the export landscape.
• Geopolitical influences, particularly in relation to European dependence on Russian gas.
• Exposure to market fluctuations due to varying global demand cycles, particularly in Asia.
• Commitments towards carbon reduction may start to alter the strategies of these major exporters.