At the relatively high cost US LNG gets imported, it creates a big incentive to start considering alternatives. A lot of the investment commitments will probably never be delivered. Fundamentally, a lot of states in the EU will have to sell this to their voters and tax payers and that's where this stuff will slowly die. Because it's a hard sell.

LNG imports will be demand driven, not supply driven. And demand is going to decrease over time; not increase. That calls into question the need for more infrastructure. On both sides. Germany already topped up its reserves for the coming winter; ahead of schedule. There is no shortage.

The US is building a big LNG bubble with investments that might end up under water. What happens if demand flattens and decreases mid to long term, as can reasonably be expected at this point? Can the US sustain high LNG prices when cheaper sources become available? What will high export prices do for domestic pricing for energy? How eager will investors be to make big multi decade investments in this (given all this)?

The existing terminals are underutilized already (below 50%). It's hard to see where all this extra demand to fill even more terminals is going to come from. There is no urgency for any of this on the EU side.

However there is quite a bit of urgency on lowering energy prices for industry and consumers. LNG is not the way to do that. I don't see that changing.