The operator of Nord Stream has sued two insurance companies in the High Court in London. Nord Stream demanded from them more than 400 million euros ($ 436 million) insurance payments for damage to the pipeline, which occurred due to sabotage in September 2022 and stopped the work of the pipeline from Russia to Germany.
According to Reuters, citing court documents, Lloyd’s Insurance Company and Arch Insurance will act as defendants in the Nord Stream AG lawsuit. The Nord Stream operator confirmed to the agency the existence of the dispute in the commercial courts in London.
“The court documents say that Nord Stream’s preliminary estimate of “the costs of draining and stabilising the pipeline, carrying out full repairs and restoring lost gas reserves” is between €1.2 billion and €1.35 billion,” the agency writes.
Nord Stream’s lawsuit also says the pipeline appeared “mangled and deformed” at one point in the sabotage and “flat and cut” at another.
As Reuters notes, Nord Stream has sued all the companies that insured its offshore operations against all risks. Apparently, the insurers refused to honour their obligations.
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