US' development and commercialization of shale gas will have a big impact on the global economy and geopolitics

The United States announced in this year's annual energy outlook that it will become a net exporter of natural gas by the year 2020 instead of the previously projected 2022.

The US leads the rest of the world in the development of shale gas technology. Last April, the Federal Energy Regulatory Commission approved a proposal by an American liquefied natural gas energy company to export liquefied natural gas abroad. The approval, the first of its kind in 40 years, was a landmark for the shale gas revolution in the US, signaling that the country has transformed itself from an importer of energy to a major exporter.