BAKU, Azerbaijan, December 19. The proven natural gas reserves of Gas Exporting Countries Forum (GECF) members and observers reached 202.6 trillion cubic meters (tcm) in 2023, representing 69 percent of global reserves, according to the latest GECF report obtained by Trend.
The total reserves increased marginally by 0.4 percent compared to 202.3 tcm in 2022, maintaining a stable growth pattern over the years. The compound annual growth rate (CAGR) for GECF countries’ reserves was recorded at -0.2% from 2014 to 2023.
The reserves for 2023 include 192.4 tcm held by GECF members and 10.2 tcm by GECF observers.
Historical figures for GECF’s share of global reserves remained steady at around 70 percent until 2023, when it dropped slightly to 69 percent.
The data reflects the long-term stability of GECF member countries in maintaining significant shares of the global natural gas market, despite slight fluctuations in individual countries’ reserves.
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