Short term, no because it's hard to migrate from. Longer term, probably yes in Europe. Shipping in LNG is expensive and I really doubt there are many European leaders who want to return to such a high reliance on Russian fossil fuel.
It sounds like China may start buying up that natural gas instead. I only see this as a plus, given that China still gets 2/3 of its electricity from coal. While sources like nuclear and renewables would be ideal, anything that gets them off coal is at least an improvement.