The US and countries of the former Soviet Union are currently the largest producers of natural gas. The Russian natural gas industry is dominated by Gazprom, which controls 95 per cent of production. In the US, Texas, Louisiana, Oklahoma and Wyoming hold nearly half of the country’s reserves. Other major global producers include Canada, Iran, Norway, Qatar, China, Algeria, Saudi Arabia and Indonesia. World natural gas reserves are estimated at 6609 trillion cubic feet (tcf). The Middle East holds 41 per cent of world reserves, while an additional 34 per cent is located in the former Soviet Union, with only 9 per cent held in the OECD countries (source: Deutsche Bank, ‘A User Guide to Commodities’, May 2011).