BAKU, Azerbaijan, December 19. The marketed gas production of Gas Exporting Countries Forum (GECF) members and observers reached 1,675 billion cubic meters (bcm) in 2023, demonstrating a 1.2 percent increase from 1,655 bcm in 2022, according to the latest GECF report obtained by Trend.
Despite the increase in marketed production, the GECF’s share of global marketed gas production remained at 41 percent in 2023, continuing a stable trend over the last decade.
Key highlights for 2023 indicate that GECF members produced 1,413 bcm of natural gas, a 1.3 percent decrease compared to 2022, while GECF observers recorded a production of 263 bcm, reflecting a 2.4 percent increase from the previous year.
The compound annual growth rate (CAGR) for marketed gas production among GECF members from 2014 to 2023 stood at 0.7 percent, while observer countries recorded a stronger CAGR of 3.5 percent during the same period.
Globally, total marketed natural gas production reached 4,117 bcm in 2023, up from 4,077 bcm in 2022, reflecting a 1 percent growth.
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