New Delhi, Nov. 17 -- A new report by the Oxford Institute for Energy Studies warns that the global effort to cut dependence on Russian gas is creating short-term volatility in pricing, largely due to tightening supply conditions and shifting geopolitical alignments.

The report stated, "reducing dependence on Russian gas means increasing reliance on an increasingly volatile ally in the US".

According to the study, sanctions on Russian energy have pushed many countries to turn toward the United States for LNG supplies. As a result, the US is now positioned to dominate global LNG supply growth, with its installed export capacity expected to nearly double by 2030. This rapid expansion comes at a time when the global LNG market is already u...