BAKU, Azerbaijan, December 19. The gross natural gas production of Gas Exporting Countries Forum (GECF) members and observers reached 2,095 billion cubic meters (bcm) in 2023, marking a 1.4 percent increase compared to 2,065 bcm in 2022, according to the latest GECF report obtained by Trend.
Despite this growth, the GECF’s share in global natural gas production declined to 41 percent in 2023, down from 43 percent in 2022, continuing a downward trend observed over recent years.
Key figures for 2023 show that GECF members produced 1,728 bcm of natural gas, reflecting a slight 0.1 percent decrease from 2022, while GECF observers maintained production at 342 bcm, unchanged from the previous year.
The report highlights a compound annual growth rate (CAGR) of 0.5 percent for total GECF production between 2014 and 2023. During this period, GECF member production remained relatively steady, while observers recorded a CAGR of 2.8 percent, reflecting more robust growth among observer countries.
The overall global natural gas production for 2023 reached 4,985 bcm, up from 4,918 bcm in 2022, showcasing a 1.4 percent growth in global output.
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