Demand isn't static.

Economics 101: if Europe taps new wells, global supply increases. Higher supply drives down prices. Lower prices induce more consumption.

We wouldn't just be cleanly swapping imported fuel for domestic fuel 1:1; we'd be making it cheaper to burn more fossil fuels globally. The marginal emissions saved on shipping are completely wiped out by the net increase in total carbon burned.

The only reason expanding that supply looks like a "win" on a balance sheet today is exactly because the long-term climate cost of burning that newly available fuel is still being passed on to the future.