"I think we can do it before then," McCain stated when asked about US projections becoming a significant exporter nation before 2020. "We can do it a lot quicker than that," he added.
McCain further told Sputnik that he is satisfied with Bulgaria's decision not to allow the construction of the proposed South Stream pipeline project.
"I'm just glad our friends in Europe cancelled the pipeline that was going to go through Europe," he said.
Legislation, introduced in June by McCain and four other US senators would expedite the process of exporting American liquefied natural gas to US allies, particularly in Europe.
Currently Europe is largely dependent on Russia for energy resources. Russia remains the EU's largest source of energy imports, accounting for approximately 32 percent of EU energy imports in 2012, according to European Commission's statistics.
US-EU Energy Council welcomed the prospect of US liquefied natural gas exports to Europe to diversify supplies and further talks on a transatlantic trade deal at the meeting on Wednesday.