This information was published by RBC based on documents from the London High Court in the dispute between Nord Stream AG - the gas pipeline operator - and insurance companies Lloyd's Insurance Company and Arch Insurance.
Accordingly, the joint memorandum was drafted by technical and technological experts hired by both sides in this lawsuit. This document clearly states the conclusions agreed upon by the experts as well as the issues of disagreement.
One of the conclusions agreed upon by experts is that, hypothetically, the Nord Stream repair project can be completed in about 36 months. This period includes project design, licensing, procurement of materials, mobilization of contractors and repair of damaged pipeline sections.
Experts' assessment is not considered a realistic plan to restore Nord Stream but is used as part of the process of calculating insurance compensation that Nord Stream AG requests from insurance companies.
These calculations can be used by the court to determine the level of compensation if the ruling states that the insurance contract is valid for the case.
According to RBC, experts have also narrowed down a part of the difference in estimating the recovery cost. In which, the purchase of 7km of new pipelines from China is estimated to cost about 16.7 million euros.
The hearing related to the sabotage of the gas pipelines connecting Russia and Germany, Nord Stream and Nord Stream 2, took place on June 11 at the Supreme Court of England and Wales.
The plaintiff is Nord Stream AG - the company is requesting the defendant Lloyd's of London to pay 580 million euros in insurance compensation. The lawsuit is presided over by Judge Clare Moulder and is expected to last about 5 weeks.
