Africa s natural gas reserves amount to about 8 of global reserves.

The country has the world's largest natural gas reserves, the 8th largest oil reserves, and the second largest coal reserves.

The city has the largest gas reserves in Iran.

According to the Oil and Gas Journal (January 1, 2009), the MENA region has 60 of the world's oil reserves () and 45 of the world's natural gas reserves ( ).

It possesses the world's fourth largest reserves of natural gas resources.

Russia is the world s largest oil and gas exporter, sitting on more than 25 of total proven gas reserves.

Gas reserves should last about 50 years at present rates of consumption.

It is estimated that the Norwegian section alone contains 54 of the sea's oil reserves and 45 of its gas reserves.

In 2004, a large share of natural gas reserves in Iran were untapped.

Covering this drop in reserves more than half of gas reserves and a fifth of oil reserves have been consumed with imports implies an annual cost of more than 300 billion.

Fortunately for its democratic prospects, Egypt has only very modest reserves of natural gas and oil.

Moreover, Russia s ability to meet future gas demand from commercially viable reserves suggests that Nord Stream could be used to cut off gas sales to unfavored clients.

Whereas extraction of America s extensive reserves of natural gas was previously thought to be unfeasible, technologies such as hydraulic fracturing ( fracking ) have ushered in a shale gas revolution.

And there are territorial disputes about small islands and potential gas reserves near the China Japan maritime boundary.

Oil and gas Oman's proved reserves of petroleum total about 5.5 billion barrels, 25th largest in the world.

For example, northern Afghanistan has unexplored reserves of oil and natural gas that could help meet China s energy needs.

Still, Iraq has vast oil and natural gas reserves, to which all of the major oil companies wanted access.

The most promising breakthrough may well be the discovery of huge reserves of shale gas all over the planet.

Iran, it is often claimed, has no need for nuclear power, given its abundant oil and natural gas reserves.

Besides the largest conventional oil reserves and the second largest natural gas reserves in the Western Hemisphere, Venezuela has non conventional oil deposits (extra heavy crude oil, bitumen and tar sands) approximately equal to the world's reserves of conventional oil.

Petroleum and other resources Venezuela has the largest oil reserves, and the eighth largest natural gas reserves in the world, and consistently ranks among the top ten world crude oil producers.

Argentina, by contrast, is a highly gas dependent country with diminishing reserves equivalent to less than eight years of production.

The plan highlights the need to take advantage of the opportunities afforded by shale gas and newly discovered oil reserves.

And all are fighting for as large a share of Iraq s enormous oil and gas reserves as they can get.

Large reserves of petroleum and natural gas were discovered in the 1960s, which led to a boom in the economy.

Gas production in the Middle East will triple, and more than double in Africa, where there are large low cost reserves.

After more than a century of oil production in Venezuela, which possesses the world s fifth largest reserves (and the largest gas reserves in Latin America), the state is rich, but the people remain tragically poor.

Despite controlling the world s largest gas reserves, Russia s state owned monopoly Gazprom is not producing enough for an economy growing at 6 a year.

State owned companies now control far more oil and gas reserves than do the traditional private energy companies once known as the seven sisters.

China also objected to Japanese statements about Taiwan. And there are territorial disputes about small islands and potential gas reserves near the China Japan maritime boundary.

In fact, estimates by the International Energy Agency suggest that the most significant recoverable reserves of shale gas are in the US and China, not Europe.

A deepening of cooperation in the eastern Mediterranean would provide myriad economic opportunities, not least the many related to developing the region s cross border maritime gas reserves.

Even though it is no longer a global superpower, Russia s vast oil and gas reserves make it an energy superpower, and Putin seems intent on playing that card.

CA So what happened was that, through increased ability to use fracking technology, the calculated reserves of natural gas kind of exploded and the price plummeted, which made wind uncompetitive.

BRUSSELS The global energy community is abuzz with excitement about hydraulic fracturing, or fracking, a newish technology that has opened formerly inaccessible reserves of gas trapped in underground shale formations.

Similarly, oil and natural gas were to run out in 1990 and 1992, respectively today, reserves of both are larger than they were in 1970, although we consume dramatically more.

Major oil fields Although Saudi Arabia has around 100 major oil and gas fields, over half of its oil reserves are contained in only eight giant oil fields, including the Ghawar Field, the biggest oil field in the world with an estimated 70 billion barrels of remaining reserves.

Last December, China s state owned National Petroleum Corporation signed a deal with the Afghan authorities that would make it the first foreign company to exploit Afghanistan s oil and natural gas reserves.

At today s prices, these reserves could be worth more than 7 trillion, according to international energy companies factoring in the accompanying natural gas, 10 trillion would probably be a conservative figure.

Reserves

Argentina has particularly high potential for production of non conventional gas resources as well, given that it holds the world s third highest level of such reserves, after China and the United States.

The Bowland Shale, which lies beneath Lancashire and Yorkshire, contains 50 more gas than the combined reserves of two of the largest fields in the United States, the Barnett Shale and the Marcellus Shale.

Yet the IEA also argued that the shortfall will be made up from greater exploitation of unconventional oil and gas reserves, albeit at far higher prices, owing to the greater environmental and extraction costs.

On land, oil fields in Alaska and gas fields in northern Russia have been producing hydrocarbons on a large scale for many years, but the estimated reserves under the Arctic Ocean are much larger.

Their values vary from gas to gas.