13 Mar 2024 09:45

Nord Stream operator sues insurers in UK for refusing to cover damages from explosions

MOSCOW. March 13 (Interfax) - The operator of the Nord Stream gas pipeline, Nord Stream AG filed a 400-million-euro lawsuit against insurance companies in a UK court on February 19 for refusing to cover damage caused by explosions on the pipeline in September 2022.

Nord Stream AG "confirmed the fact of the proceedings in the London Commercial Court between Nord Stream AG and the gas pipeline insurers," but refused to comment on their details.

The defendants in the lawsuit are Lloyd's Insurance Compay S.A. and Arch Insurance (EU) DAC.

Nord Stream's preliminary estimate for the cost of removing water from the pipelines, stabilizing them, carrying out repairs and replacing lost gas is 1.2 billion to 1.35 billion euros, the Financial Times reported.

In September 2022, explosions ruptured the two strings of the first Nord Stream pipeline and one of the strings of Nord Stream 2 near the Danish island of Bornholm. Russia launched a criminal case under the article that covers acts of international terrorism.