158
to complete these projects in any way possible. This could lead to an increase in the
total debt of Gazprom, and will even challenge the payment of profits to shareholders (https://www.shana.ir 2019).
Indeed, the increase in US gas production has made LNG from an expensive and
concentrated energy source to infrastructure, a relatively inexpensive and bargainable energy source. The price of LNG is now almost half the price of this commodity
in the middle of a decade. LNG marketing is due to the shale gas revolution in the
United States. The United States has the fastest growing natural gas production.
Therefore, it seems unlikely that the domestic market can absorb all of this output.
In fact, in some areas of the US, shale gas is produced at a negative price, which is
dominated by the cost of production at its initial cost. In particular, shale gas producers are not limited in the United States and thousands of companies are active in
shale gas production, which means pricing is based on competition in the US market
(www.donya- e- eqtesad.com 2019).
Before 2005, the United States predicted that it would face a shortage of natural
gas in the future; therefore, it started to construct several liquid gas import terminals, but after 2005 and the success of the economic exploitation of its unconventional sources, this issue in general changed so that not only many of its imported
terminals were changed into export terminals, but also several liquid gas export
terminals were constructed (www.mehrnews.com 2018).
Shale gas production has grown strongly in the United States in recent years,
with output rising from 36 bcm in 2007 to 430 bcm in 2015. The projections for the
same period of the year 2005 showed that this increase would exceed the increase in
future consumption, which caused the United States, which was a natural gas
importer over all these years, decided to enter the gas export market. The increase
in gas production in the United States, of course, has another effect; the change in
the energy source of some domestic industries from coal to natural gas to protect the
environment in line with Obama’s environmental policies. The volume of natural
gas production in the was due to increase in 2018, and the country’s natural gas
exports were predicted to surpass its imports by the end of 2018 with the United
States becoming a net natural gas exporter (www.mehrnews.com 2018).
The United States needs access to other global markets for access to the gas
market, but due to the large distance from the global markets and the lack of ground
access to these markets, it is not possible to export gas through the pipeline. On the
other hand, due to projects for the construction of the Liquefaction Terminal, it is
anticipated that the US oil gas export capacity in 2020 will be about 80 billion cubic
meters and in 2035 it will reach 130 billion cubic meters (www.eia.gov 2019).
Amos J. Hochstein, who served as the Special Envoy and Coordinator for
International Energy Affairs and leads the Bureau of Energy Resources (ENR) at the
US Department of State, played important role in US energy diplomacy and mainly
US energy exports to the EU. He participated in many conferences organized by
Washington based think tanks and also has made many trips to EU countries to
discuss boosting US LNG exports to EU and Russian energy exports to
EU. Hochstein, in one of his speeches in a conference held in Washington in August
5 US Energy Diplomacy Under the Obama Administration
to complete these projects in any way possible. This could lead to an increase in the
total debt of Gazprom, and will even challenge the payment of profits to shareholders (https://www.shana.ir 2019).
Indeed, the increase in US gas production has made LNG from an expensive and
concentrated energy source to infrastructure, a relatively inexpensive and bargainable energy source. The price of LNG is now almost half the price of this commodity
in the middle of a decade. LNG marketing is due to the shale gas revolution in the
United States. The United States has the fastest growing natural gas production.
Therefore, it seems unlikely that the domestic market can absorb all of this output.
In fact, in some areas of the US, shale gas is produced at a negative price, which is
dominated by the cost of production at its initial cost. In particular, shale gas producers are not limited in the United States and thousands of companies are active in
shale gas production, which means pricing is based on competition in the US market
(www.donya- e- eqtesad.com 2019).
Before 2005, the United States predicted that it would face a shortage of natural
gas in the future; therefore, it started to construct several liquid gas import terminals, but after 2005 and the success of the economic exploitation of its unconventional sources, this issue in general changed so that not only many of its imported
terminals were changed into export terminals, but also several liquid gas export
terminals were constructed (www.mehrnews.com 2018).
Shale gas production has grown strongly in the United States in recent years,
with output rising from 36 bcm in 2007 to 430 bcm in 2015. The projections for the
same period of the year 2005 showed that this increase would exceed the increase in
future consumption, which caused the United States, which was a natural gas
importer over all these years, decided to enter the gas export market. The increase
in gas production in the United States, of course, has another effect; the change in
the energy source of some domestic industries from coal to natural gas to protect the
environment in line with Obama’s environmental policies. The volume of natural
gas production in the was due to increase in 2018, and the country’s natural gas
exports were predicted to surpass its imports by the end of 2018 with the United
States becoming a net natural gas exporter (www.mehrnews.com 2018).
The United States needs access to other global markets for access to the gas
market, but due to the large distance from the global markets and the lack of ground
access to these markets, it is not possible to export gas through the pipeline. On the
other hand, due to projects for the construction of the Liquefaction Terminal, it is
anticipated that the US oil gas export capacity in 2020 will be about 80 billion cubic
meters and in 2035 it will reach 130 billion cubic meters (www.eia.gov 2019).
Amos J. Hochstein, who served as the Special Envoy and Coordinator for
International Energy Affairs and leads the Bureau of Energy Resources (ENR) at the
US Department of State, played important role in US energy diplomacy and mainly
US energy exports to the EU. He participated in many conferences organized by
Washington based think tanks and also has made many trips to EU countries to
discuss boosting US LNG exports to EU and Russian energy exports to
EU. Hochstein, in one of his speeches in a conference held in Washington in August
5 US Energy Diplomacy Under the Obama Administration