basically, you are right. as the other commented said, "Europe cedes sovereignty with gas" be it Russian or American. The continent should be laser focused with renewables and other forms of energy generation (also nuclear, if necessary, even if i am not too happy about it)
With LNG, it's not as bad. It is about as bad as oil imports. No dependence is created because all LNG is the same and you can just buy it from anyone on the market - unlike a pipeline that creates a mutual dependence.
We can see though that it turned out to be worse for Russia than for Europe: they haven't found another export market when Europe declined imports, only other candidate is China but knowing they are the only ones, they demanded, and got, deep discounts. Pricing of "Power of Siberia" supplies is not public and it's been claimed that given transportation costs, it actually sells gas cheaper than Russian internal prices.
a lot of LNG is actually Russian tho, using shadow fleets, and this is ridiculous and stupid. But it's what Europe need... imho, while all the investment should be on solar, wind and water - it would be better to cut the hypocrisy and to buy cheap gas from russia.
Well, the fraction of Russian LNG can't be higher than the overall fraction of Russian LNG on the world market right? Because prices for it are the same everywhere - a tanker operator can send it wherever prices are the best. It means a really small fraction. And most importantly, Russians can't threaten to cut it, because it simply means removing some of the supply from a large, uniform pool - if they do it they won't harm anyone in particular, just make LNG everywhere uniformly more expensive - and deprive themselves of money. With pipelines, they could actually imperil supply in a particular place.
Also, Russian LNG will be let go of rather soon, this is in the upcoming sanctions package.
