Reuters: German companies resumed insurance coverage for Nord Stream damaged by explosion

German reinsurance companies Allianz and Munich Re have renewed contracts for the damaged Nord Stream gas pipeline, writes Reuters with reference to sources. The interlocutors of the agency believe that the supply of gas through the pipeline can be resumed after the elimination of the consequences of the explosion.

The resumption of contracts contradicts the official position of Germany, which announced its intention to completely abandon the supply of Russian energy, Reuters notes. However, according to the agency, the German authorities did not object to the extension of the pipeline’s insurance coverage.

According to one of the sources of the agency, the insurance policy covers not only the damage caused by the explosion, but also the costs associated with the interruption of supplies. The interlocutors of the agency noted that some of the German investors of the gas pipeline intend to keep it in working condition in case of a possible improvement in relations with Russia.

Explosions at Nord Stream and the unlaunched Nord Stream 2 occurred on September 26, 2022. An investigation into the incident was initiated by Germany, Sweden and Denmark. The United States refused to conduct its own investigation. The Russian authorities consider the explosions an act of international terrorism. March 27 UN Security Council did not support Russia’s resolution on the establishment of an international commission to investigate gas pipeline explosions.

Read more about the investigation – in the publication “Kommersant” “Versions diverge in streams.”

Milena Kostereva