Abstract:The upstream renaissance in the United States that has resulted from the successful application of new technologies in the exploration and development of shale gas has generated ripples through the global gas market. The US is soon to become a significant exporter of liquefied natural gas (LNG), which is remarkable given conventional wisdom just a decade ago was that the US would become a substantial importer of LNG. As this new market reality takes hold, the geopolitical position of the US is also evolving. But, the manner in which this emerging position of strength may be maximized is a subject of debate. In the paper, we argue that simply accelerating US LNG exports does not convey the same benefits as successfully promoting liberalization of global gas markets, particularly when considering the geopolitical priority of easing European dependency on Russian natural gas.