Munich Re will stop servicing Nord Stream 2

BERLIN, 23 Feb – RIA Novosti. A subsidiary of the Münchener Rück group has completed an agreement with Nord Stream 2, Frank Ziegler, an official representative of the Munich reinsurance company Münchener Rück, told RIA Novosti.

“We are talking about our subsidiary Munich Re Syndicate in London, she had a contract, and it is completed, I can confirm this,” – said the source.

Ziegler did not provide details.

The Münchener Rück group of companies reinsures German and international insurers. Nord Stream 2 AG is the operator of the Nord Stream 2 project, and Gazprom is the sole shareholder of the enterprise.

“Nord Stream – 2”

Gazprom plans to build two pipelines with a total capacity of 55 billion cubic meters of gas per year from the Russian coast through the Baltic Sea to Germany. Also, the pipe will pass through the territorial or exclusive economic zones of Finland, Sweden and Denmark.

Washington, which is promoting its liquefied natural gas to the European Union, as well as Kiev, Warsaw, Riga and Vilnius are actively opposed to Nord Stream 2. At the end of 2019, the United States imposed sanctions on the project, as a result of which Allseas from Switzerland had to abandon the pipe laying. On the eve of Washington included in the sanctions lists the pipelayer “Fortuna”, capable of completing the work, and the owner of the vessel – the company “KBT-Rus”. They came under the US law “On the protection of European energy security.”

In December 2020, Fortuna laid 2.6 kilometers of pipes in German waters. It remains to lay 120 kilometers in the waters of Denmark and about 28 kilometers in the waters of the Federal Republic of Germany.

The Russian authorities have repeatedly pointed out that Nord Stream 2 is a purely commercial project. Moscow declared that they would complete the construction of the gas pipeline, despite external opposition.

Author: wedocount

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