MOSCOW, 28 Sep — PRIME. The Nord Stream and Nord Stream 2 pipelines, which experienced an emergency with a gas leak, were insured by foreign companies, but the terms of insurance are unknown, two sources in the insurance market told RIA Novosti.
On Monday, incidents occurred simultaneously on two Russian export gas pipelines to Europe. According to information from the authorities of Denmark and Sweden, two gas leaks were discovered at Nord Stream and one at Nord Stream 2 near the island of Bornholm. Germany, Denmark and Sweden do not rule out targeted sabotage. So, according to seismologists, two shocks similar to explosions were recorded in the area of gas leaks from Nord Stream on Monday. The Nord Stream operator Nord Stream AG reported that the state of emergency on gas pipelines is unprecedented and it is impossible to estimate the repair time.
Nord Stream is an international consortium. The pipelines were insured by foreign companies, but the terms of the insurance are unknown,” one of the sources told RIA Novosti.
“But it’s certain that military risks could not be included in the coverage, and now this is being considered as one of the versions. Most likely, the insurer will postpone payment until the end of the investigation, and, as the press writes, in the current conditions it can stretch for years,” said the second The source added that war risks and sabotage could be treated as separate risks from an insurance point of view and could be grounds for denial of benefits if one of the risks is not covered.
As commented to RIA Novosti by the chairman of the board of the Association of Professional Insurance Brokers Katerina Yakunina, if the event falls under the insurance contract, the insurance company will first make a payment (in this case, this is a loss in property and liability for damage to the environment), and then, if the guilty party is found, the insurer will turn recourse claims to it.
“If the event is not covered by the terms of the insurance contract, then all damage will be reimbursed for the light of the operator / owner of the pipeline. And then he himself will look for the guilty party and try to recover damage from the guilty party,” she adds.
The work of Nord Stream has been suspended since the end of August due to problems with the repair of Siemens turbines caused by Western sanctions. However, the pipeline remained filled with gas. Nord Stream 2, completed in 2021 but never put into operation, has also already been filled with gas.