In 2021 Russia was the world's second-largest producer of natural gas, producing an estimated 701 billion cubic meters (bcm) of gas a year, and the world's largest natural gas exporter, shipping an estimated 250 bcm a year.[1] In 2022 the export market was significantly downsized [vague], following the Russian invasion of Ukraine and Russia reducing exports after countries refused to pay in rubles.[citation needed]
According to The World Factbook estimate, the country also has the largest proven reserves (47 trillion cubic meters (tcm)).[1] BP estimates Russian reserves to be 33 tcm.[2][3] Additionally, Russia is likely to have the largest volume of undiscovered natural gas deposits, an additional 6.7 tcm, according to 2011 US Geological Survey estimations.[4] Russia consumes approximately 460 bcm a year.[1] Flaring is a problem in Russia.[5]
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