Natural gas is a fossil fuel formed deep beneath the earth's surface. Natural gas contains various compounds, most notably methane.
Liquefied natural gas (LNG) is natural gas that has been cooled to a liquid state, around -161°C.
Natural gas accounted for approximately 23% of the world's primary energy mix in 2019. According to the Office of the Chief Economist, electricity production consumes 40% of global gas use, followed by residential, industrial and transport segments.
Around 3/4 of natural gas is sold via long-term contracts.