LNG geopolitics: Sanctions reshape gas flows as reduced Russian supply fuels new volatility; US emerges as dominant but risky supplier

A new analysis by the Oxford Institute for Energy Studies has cautioned that the worldwide effort to move away from Russian gas is creating fresh instability in the market, largely because of tighter supplies and shifting political alignments.

The report says that cutting reliance on Moscow has pushed several countries to depend more heavily on the United States, describing the shift as an increased dependence on “an increasingly volatile ally in the US.”