Saudi Arabia's proven reserves of natural gas increased by 0.4% (1.2 trillion standard cubic feet) at the end of last year, to reach 326.1 trillion standard cubic feet, compared to 324.5 trillion standard cubic feet at the end of 2019.
According to Arab Net, Saudi Arabia ranked sixth in the world at the end of last year, constituting 4.5% of the world's natural gas reserves, amounting to 7,298.9 trillion standard cubic feet, according to Al-Eqtisadiah newspaper. .
Natural gas prices have increased by 98% since the beginning of this year, reaching $5.03 per million British thermal units, according to the closing of November 21, compared to $2.54 million British thermal units at the end of last year 2020.
Referring to reserves, Saudi Arabia was able to double its gas reserves more than 6 times in 60 years (from 1960 until the end of 2020), as they were 46 trillion standard cubic feet. In 1960, which means an increase of 609% during that period, with an average increase of 10.1% annually.
By the end of 2020, Saudi Arabia ranked sixth behind Russia, Iran, Qatar, Turkmenistan and the United States, with Russia's reserves amounting to 1728.2 trillion standard cubic feet (23.7% of the world), 1203.4 trillion standard cubic feet (16.5%) for Iran, 841.6 trillion standard cubic feet (11.5%) for Qatar, 542.6 trillion standard cubic feet (7.4%) for Turkmenistan, and 457.6 trillion standard cubic feet (6.3%). to the United States.
