OAL Betriebsversicherung

On GASCADE and OAL

The asset: The purpose of this tender is to place Operational All Risks Physical Damage Insurance (OAR PD) for the Ostsee Anbindungsleitung (OAL) with an exclusion for Terror Risk and a limit of liability of 75,0 million Euro with a leading share of at least 20% or 15 million Euro capacity (based on the combined single limit) of the written lines and following markets which preferably accept full following form without reservations. OAL does not intend to place Business Interruption insurance.

The awarded candidate must collaborate with OAL's mandated insurance broker, being Nordwest Assekuranzmakler GmbH & Co. KG.

The OAL as a nearshore subsea pipeline connects the liquefied natural gas (LNG) terminal in the port of Mukran with the German pipeline system in Lubmin. GASCADE completed construction of the approximately 50-kilometre-long offshore pipeline in January 2024. OAL is fully operational and free of known losses in the operational phase.

OAL is a joint co-ownership (Bruchteilsgemeinschaft) pursuant to sections 741 et seq. BGB between GASCADE Gastransport GmbH (75% co-ownership share) and Fluxys Deutschland GmbH (25% co-ownership share). GASCADE assumes the technical and commercial management of the asset. Policyholder will be GASCADE. The interest of both parties will be insured (Fluxys co-insured).

Further details will be provided along with the Invitation To Tender (ITT), including but not limited to a policy wording, an informative and not conclusive risk summary and further information on the new and revised insurance concept as of 01.07.2025 which is considerable given the nature of the new concept.

See Call for Competition (CfC) for further information.