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the costs involved in liquidising natural gas is very very high, the pipeline would have made gas in europe much cheaper than it is now with the shipped gas
a) the liquefaction facilities are already built, so the costs are sunk
b) the revenue from the NGLs that come out of the North Field mean that the marginal cost of LNG production is effectively zero, and sometimes negative
c) Qatar already ships gas to Europe in tankers and it's already cheaper than pipeline gas from Russia (see point (b))
h2o
the costs involved in liquidising natural gas is very very high, the pipeline would have made gas in europe much cheaper than it is now with the shipped gas