With the shale boom driving unprecedented growth in US natural gas production, the nation is likely to import less and export more energy over the next decade.

Already, change in the nation’s energy climate is sparking more investment in North America, where low domestic natural gas prices are impacting not only power generation and petrochemical production, but also natural gas intensive manufacturing. Foreign companies are “placing bets” in the US, sinking billions of dollars into North American shale plays.

Plays aside, development in the US Gulf of Mexico also has ...