MOSCOW, June 11. /TASS/. Restoring the Nord Stream gas pipeline, which was damaged in a series of explosions, could take approximately three years, provided that financing is secured in a timely manner and no significant delays occur. This was reported by RBC, citing materials from the High Court of London in the dispute between Nord Stream AG, the pipeline's operator, and insurers Lloyd's Insurance Company and Arch Insurance.
According to the report, the joint memorandum was prepared by engineering and technical experts engaged by both parties to the proceedings. The document sets out both the specialists' agreed conclusions and a list of issues on which their positions continue to differ.
One of the experts' agreed conclusions was that, hypothetically, implementation of the repair project could take about 36 months. This timeframe includes project design, obtaining permits, procuring materials, mobilizing contractors, and carrying out the repair work on the damaged sections.
The experts' assessments were not considered a plan for the actual restoration of the pipeline but rather part of the calculation of potential insurance compensation sought by Nord Stream AG in its claim against the insurers. These calculations may be used by the court to determine the amount of insurance compensation if it finds that insurance coverage applies.
RBC noted that the specialists also partially narrowed their differences on one aspect of estimating restoration costs. In particular, the procurement of 7 kilometers of new pipes from China would cost 16.7 million euros.
Hearings in the case concerning the sabotage of the Nord Stream and Nord Stream 2 gas pipelines began on Thursday at the High Court of England and Wales.
The claimant is Nord Stream AG, which is seeking insurance compensation of 580 mln euro from the defendant, Lloyd's of London. The proceedings, overseen by Judge Clare Moulder, are expected to last approximately five weeks.