I don't understand how US sanctions on Russia might make NG prices rise.
If anything, I would think sanctions that cut into Russia's income might make them want to sell more gas.
Russia indeed wants to sell Europe more NG, but sanctioning Nord 2 keeps Europe from accessing the cheap, reliable Russian gas. That (American) LNG being offered as a very high priced alternative is what has Europe, Germany in particular, up in arms.
The proposed pipeline running through Syria is no longer deemed possible, so it's basically either NG in a pipe from Russia, or LNG from America - or now from Qatar, that is expected to meet Europe's growing demands.(Demand is actually flat but Eu production of gas is faltering)
Qatar is suddenly being targeted. Nord 2 may never be completed. The Russian/Turkish Pipeline is being held up, and Russia pulled out of South Stream when Europe suddenly changed the rules.
Russian pipelines to China are expanding and Russia is still stockpiling huge amounts of gold, with very little debt.
Russia will survive the latest sanctions just as she survived the prior round. This is not the American sanctioning of Japan that forced the Pearl Harbor response. Europe was hurt deeply by the last sanction/countersanction and understandably doesn't want to face more of the same, particularly having her reliable energy supplier being undermined, with no proven alternative being offered.
Europe's "retaliation" seems weak at this point in time, but America's insistence that Europe ween herself from Russian gas, at a time when Russia provides them with the cheapest, cleanest, most reliable source of energy available may prove to be asking too much from an "ally". Europe is beginning to see herself being treated more as a subordinate than as a partner.
The American Congress seems to be parroting Vicky's famous reply when asked how Europe might respond to the coup in Ukraine. FU@K the Eu.
Terry