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Brazil has 517 billion cubic meters of proven natural gas reserves, which indicates significant production potential, according to the Instituto Brasileiro de Petróleo e Gás. Reinjection remains significant at ~40% of output, limiting marketable supply, while domestic production continues to expand through offshore developments.
Global natural gas markets remain structurally balanced, with U.S. marketed natural gas consumption averaging around 90 Bcf/d in 2025 according to the U.S. Energy Information Administration, while China’s natural gas consumption continues expanding under national energy policy targets, reinforcing Asia’s role as the primary demand centre in global gas dynamics. In February 2025, U.S. natural gas consumption was 115.9 Bcf/d, 5% more than the previous February consumption record set in 2021.</p