Nord Stream sues insurers in London over 2022 pipeline explosions [Globe and Mail, The (Toronto, Canada)]
MUENCHENER RE GP UNSP/ADR (MURGY)
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Source: Globe and Mail, The
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. 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. 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. Nord Stream in its
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