Nord Stream is seeking more than 400 million euros ($436 million) from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show.
Nord Stream AG names Lloyd’s Insurance Company and Arch Insurance (EU) DAC ACGL.O as defendants in its lawsuit, which was filed at London’s High Court last month.
Court filings state that Nord Stream’s current preliminary estimate of “the costs to dewater and stabilize the pipeline, to undertake a full repair and to replace the lost gas inventory” is between 1.2 billion and 1.35 billion euros.
Nord Stream’s lawsuit also says one of the pipelines looked “mangled and deformed” in one area where it had been damaged, but “appeared smooth and to have been cut” in another.
Lloyd’s declined to comment. Nord Stream and Arch did not immediately respond to a request for comment.
The lawsuit focuses on the explosions in September 2022 which ruptured the Nord Stream 1 and Nord Stream 2 pipelines. Sweden – which last month dropped its investigation – and Germany have both found traces of explosives relating to the incident, suggesting it was a deliberate act.
Nord Stream in its lawsuit is suing all insurers subscribing to its offshore operating all-risks policy as well as its excess all-risks policy.
According to court documents, Nord Stream is suing Lloyd’s on its own behalf and as the representative of others subscribing to policies issued by insurers including Munich Re, which declined to comment.
2 replies on “Nord Stream Sues Insurers in London Over 2022 Pipeline Blasts”
Hi penny, on a different matter. I get a 403 error when looking at your website from my pc. Its visitable on mobile phone.
It might have to do with wordpress plugins, but these are unchartered teritory for me
Hi Kaz
Had to look up what a 403 error is!
Could be plug ins, but, my knowledge on that isn’t the best.
Your IP shows up with comments, so, assuming this is from your mobile phone?
If you want to send me the IP associated with the computer send it via email pennyforyourthoughts2@gmail.com
I can see if it’s a plug in problem or if I inadvertently blocked it because it was unknown to me ( didn’t show up associated with any comments) I can get overzealous with IP’s because I have trouble with IP’s consuming my bandwidth (making an extreme number of visits that aren’t realistic) as well as spamming.