SOGAZ pays for satellite loss

Gas industry insurance company SOGAZ has paid US$50.5mn to Gazkom following the loss – at launch – of a Yamal-100 satellite. The insurance agreement was set up to cover the more dangerous moments of the Yamal project, particularly transportation and storage of launch means, prelaunch preparations and the launch itself and the two Yamal-100 satellites. The liability limit was set at US$101mn.