Europe has almost completely freed itself from dependence on the Kremlin in less than two years. The preferred replacement - gas from the US - is widely seen as plentiful, politically acceptable and less likely to stall than pipelines from Siberia.

But it is also becoming riskier every day. The US has captured a significant share of European gas supplies, dwarfing the remaining Russian supplies. Booming American supplies now account for about half of the region's LNG imports. The USA is the bloc's second-largest gas supplier after its neighbor Norway.