Nord Stream is seeking more than €400-million from its insurers over explosions in 2022 which ruptured pipelines designed to transport Russian gas to Germany, court filings show.
Switzerland-based Nord Stream confirmed in an e-mail there is a contractual dispute in London commercial courts between itself and insurers of the pipeline system. 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.
Russia and the West, at loggerheads over Moscow’s invasion of Ukraine, have pointed fingers at one another. Each has denied any involvement, and no one has taken responsibility.
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