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Biogas offers significant benefits as a renewable energy source, contributing to decarbonization, waste management, and economic development. This comprehensive review examines the historical, technological, economic, and global aspects of biomethane production, focusing on the key players such as China, the European Union, and North America, and associated opportunities and challenges as well as future prospects from an Australia perspective. The review begins with an introduction to biogas, detailing its composition, feedstock sources, historical development, and anaerobic digestion (AD) process. Subsequently, it delves into major biomethane production technologies, including physicochemical absorption, high-pressure water scrubbing (HPWS), amine scrubbing (AS), pressure swing adsorption (PSA), membrane permeation/separation (MP), and other technologies including organic solvent scrubbing and cryogenic separation. The study also discusses general guidelines of techno-economic assessments (TEAs) regarding biomethane production, outlining the methodologies, inventory analysis, environmental life cycle assessment (LCA), and estimated production costs. Challenges and opportunities of biogas utilization in Australia are explored, highlighting and referencing global projections, polarization in production approaches, circularity in waste management, and specific considerations for Australia. The review concludes discussing future perspectives for biomethane, emphasizing the importance of technological advancements, policy support, and investment in realizing its full potential for sustainable energy and waste management solutions., (© 2024 The Authors. ChemSusChem published by Wiley-VCH GmbH.)