Source: EPA/BGNES
Insurance policies for Nord Stream gas pipelines damaged by explosions in 2022 do not provide coverage in the event of war, Reuters and Kommersant reported, citing documents filed at London’s High Court.
The operator of Nord Stream is seeking more than 400 million euros from its insurers over the explosions that ruptured pipelines meant to carry Russian gas to Germany. Insurance company Lloyd’s and Arch Insurance (EU) DAC ( ACGL.O ) are named as defendants in the suit.
Sweden – which in February closed its investigation – and Germany found traces of explosives linked to the incident, which damaged the Nord Stream 1 and Nord Stream 2 gas pipelines, suggesting it was a deliberate act.
Referring to the court documents, Kommersant states that the insurance does not cover damages directly or indirectly caused as a result of war, military actions or detonation of explosives, reports news.bg.
The Nord Stream 1 and 2 pipelines carrying Russian gas to Germany under the Baltic Sea were damaged by a series of explosions in Swedish and Danish waters in September 2022.
After the incident, Danish police reported that they had been hit by powerful explosions, and Swedish investigators confirmed that traces of explosives found at the scene strongly indicated that there had been sabotage.
Russia and the West blame each other for the accident. Each side denies involvement, and so far no one has claimed responsibility.
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