Nord Stream AG, operator of the Nord Stream gas pipeline, disagreed with insurers’ conclusions that the collapse of a pipe on one of the lines was probably caused by explosions that occurred in September 2022. This was reported by RBC.
The gas pipeline operator believes that, in accordance with the terms of insurance, it is entitled to compensation in the amount of 380 million euros for damage caused by explosions on both lines of the gas pipeline. Additionally, the company is entitled to a further €190 million for a dent caused by a separate insured event.
In turn, insurance companies are sure that they should not make any payments to Nord Stream AG due to the damage to the gas pipeline due to the conflict between Russia and Ukraine and such risks are not included in insurance policies.
This issue is being argued in the High Court in London. The lawsuit against Lloyd’s and Arch was filed in February 2024, and the allegations were updated in September. The amount of compensation claimed by the operator is up to 574 million euros.
These insurers to reject The requirements of the Nord Stream operator became clear on October 7.
Nord Stream eruptions occurred on September 26, 2022, in an area near the Danish island of Bornholm in the Baltic Sea.
Previously at SVR stated About the US role in undermining Nord Streams.