Natural gas reserves

Global natural gas reserves increased by 12.3 trillion cubic metres to 208.4 trillion cubic metres

Reserves-to-production (R/P) ratios

Years
History

World proved natural gas reserves at end-2011 were sufficient to meet 63.6 years of production. A large increase in Turkmen reserves pushed the R/P ratio for Europe & Eurasia to 75.9 years. The Middle East still holds the largest reserves (38.4% of the world total, compared with 37.8% for Europe & Eurasia) and has an R/P ratio of over 150 years.

Methodology

Proved reserves of natural gas are generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.

R/P ratios represent the length of time that those remaining reserves would last if production were to continue at the previous year's rate. It is calculated by dividing remaining reserves at the end of the year by the production in that year.

The data series for proved gas reserves in this years Review does not necessarily meet the definitions, guidelines and practices used for determining proved reserves at company level, for instance, under accounting rules contained in the Statement of Recommended Practice. 'Accounting for Oil and Gas Exploration, Development, Production and Decommissioning Activities' (UK SORP) or as published by the US Securities and Exchange Commission nor does it necessarily represent BP's view of proved reserves by country. Rather the data series has been compiled using a combination of primary official sources and third-party data.

Reserves-to-production (R/P) ratios are available by country and feature in the table of gas reserves. R/P ratios for the region and the world are depicted in the chart above and the Energy charting tool.

Sources

The estimates for proved gas reserves have been compiled using a combination of primary official sources and third party data from Cedigaz and the OPEC Secretariat.