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" ... In all likelihood, as the lowest cost supplier Russia will remain Europe’s main source of natural gas. But Gazprom will have to function within much more competitive market, and will feel the pressure from other Russian companies. Availability of LNG (from the U.S. and elsewhere) and policy can restrain the company’s inframarginal rents. As explained above, the U.S. could become an important force behind these changes facilitating diversification, integration, and liberalization of the European natural gas market. Such engagement could be less controversial, less divisive, and likely more productive than sanctions that affect not only Gazprom/Russia but also some U.S. allies. ... "