Chile is the world’s 42nd-largest producer of natural gas and the country’s output decreased by 7% in 2023, over 2022. The country accounts for 0.02% of global production, with the world’s other largest producers being the US, Russia and Iran. GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Chile in its report, Oil and Gas Upstream Production and Capex Outlook by Projects (Crude and Condensate and Natural Gas), Fields (Active, Planned and Announced), Region, Key Countries, Companies and Forecast, 2023-2027. Buy the report here.
Over the five years to 2023, production from Chile decreased by a CAGR of 5% and is expected to drop by a CAGR of 21% between 2024 and 2028.
The largest producers of natural gas in Chile are Empresa Nacional del Petroleo, GeoPark and Methanex. Empresa Nacional del Petroleo was the largest producer of natural gas in 2023 with output down by 7% on 2022.
GeoPark was the second-largest producer, with output up by 17%, and Methanex was third with a decrease of 31% on the previous year.
There are three natural gas producing fields in Chile, all located onshore. The Magallanes Region has the majority of the natural gas fields in the country with two.
Role of natural gas in the energy transition
Natural gas plays a pivotal role in the global energy transition, serving as a transition fuel towards decarbonisation. As countries navigate the shift from fossil fuels to renewable energy sources, natural gas provides a lower-carbon alternative, aiding in reducing emissions and delivering reliable energy given the fluctuating availability of wind and solar power. Its versatility and abundance make it a key component in the evolving energy mix.
For more detailed analysis of natural gas sector in Chile, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
