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. On Friday, the White House announced the polarizing decision to halt approval of new liquefied natural gas (LNG) export permits amid opposition from climate-minded voters. The halt threatens to delay or even derail some of the massive projects slated to come to market.