The Persian Gulf region also contains huge reserves (2,509 Tcf) of natural gas amounting to over 40 percent of the world’s total. Iran, Qatar, Saudi Arabia, and the United Arab Emirates holds the world's second, third, fourth, and fifth-largest reserves (behind Russia), respectively. Persian Gulf natural gas will become increasingly important in coming years, as both domestic gas consumption and gas exports (by pipeline and also by liquefied natural gas - LNG) increase.

The main LNG exporters from the Persian Gulf are Qatar and the United Arab Emirates sending out about 18 percent of world LNG shipments in 2005 according to Cedigaz. The region’s market share could increase in the next decade as Qatar expands its LNG capacity. Iran is another potential LNG exporter, and its South Pars gas field contains at least 280 Tcf of reserves. Development of South Pars is Iran's largest energy project and has already attracted around $15 billion in investment. However, development has been delayed by various technical, contractual, and political issues.

Most of Qatar's natural gas proven reserves of 910 trillion cubic feet (Tcf) is located in the offshore North Field, which is the largest known non-associated natural gas field in the world. The Qatari government believes that the country's economic future lies in developing this vast natural gas potential.

Persian Gulf Countries Natural Gas Statistics
Country	Reserves (Natural Gas – Tcf) 2006	Production (Dry Natural Gas - Tcf) 2005	Consumption (Tcf) 2005	LNG Exports (Tcf) 2005
Saudi Arabia	240	2.5	2.5	-
Iran	974	3.6	3.6	-
Iraq	112	>0.1	>0.1	-
Qatar	910	1.6	0.7	1.0
UAE	214	1.7	1.5	0.3
Kuwait	55	0.4	0.4	-
Bahrain	3	0.4	0.4	-
Total	2,509	10.3	9.1	1.3

Source: Cedigaz