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Explosions at Nord Streams: Nord Stream company demands compensation of €400 million

Explosions at Nord Streams: Nord Stream company demands compensation of €400 million Photo: Nord Stream demanded compensation of 400 million euros (Getty Images)

The company Nord Stream has filed a lawsuit against insurance companies and is demanding over 400 million euros in compensation for damages caused by explosions in 2022, informs Reuters.

Nord Stream is suing all insurers in its lawsuit. According to court documents, the company intends to claim compensation from Lloyd's and other insurance companies.

The court documents 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" ranges from 1.2 to 1.35 billion euros. However, company sources note that Nord Stream expects to receive only 400 million euros.

The lawsuit concerns explosions in September 2022 that led to the rupture of the pipelines Nord Stream-1 and Nord Stream-2.

Nord Streams

The gas pipelines Nord Stream-1 and Nord Stream-2 were constructed by the Russian company Gazprom to transit 110 billion cubic meters of natural gas per year to Germany and other European countries. However, Nord Stream-2 has not been put into operation due to the Russian invasion, and Nord Stream-1 was halted by Gazprom in the summer of 2022. Three out of four branches of the pipelines were sabotaged on September 26, 2022.

Investigations indicate high activity of Russian military ships near the Nord Streams shortly before the explosion.

Media reports also suggested the involvement of a private group of Ukrainian saboteurs on a yacht in the sabotage, but this version is not being seriously considered.

In February 2024, Denmark and Sweden announced the completion of the investigation into the explosions on the Nord Streams.