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German insurers renew cover for Nord Stream gas pipeline — Reuters

It is noted that the insurance policy covers damage to the pipeline and business interruption issues

MOSCOW, April 4. /TASS/. German insurers Allianz and Munich Re have renewed cover for the Nord Stream gas pipeline damaged as a result of blasts, Reuters reported Tuesday citing sources.

The insurance stands in contrast to Germany's public stance of severing ties with Moscow, but one of sources said that the German government had not opposed the cover, according to the agency. The German economy ministry said that insurance was not part of the support the government had in the past provided for the pipeline, Reuters said.

The insurance policy covers damage to the pipeline and business interruption issues, one of the sources said. Having insurance would also facilitate any repair work needed to resume gas supplies to Europe.

Some of Nord Stream's German shareholders favor preserving the pipeline in case relations with Moscow improve, two people familiar with the matter told the agency. One of the sources said that Berlin tolerated such an approach to the infrastructure despite statements on severed energy ties with Russia.

On September 27 last year, Nord Stream AG reported unprecedented damage that occurred the day before on three strings of the Nord Stream 1 and Nord Stream 2 offshore gas pipelines. On September 26, Swedish seismologists registered two explosions on pipeline routes. Russia’s Prosecutor General's Office launched criminal proceedings over an act of international terrorism.