The submarine oil and gas pipeline is an important strategic material and economic target related to the people’ livelihood and energy security, which has the characteristics of long pipeline distance, large transportation capacity, high strength and strong protection capacity. Pipeline damage would not only directly cause energy interruption, environmental pollution and other direct damage, but also cause heavy economic losses, difficult to repair, and even lead to serious regional political, military and other problems.. In order to analyse the demolition mode of “Nord stream”, according to the damage pictures data of pipe, based on the nonlinear dynamic analysis software, a certain type shaped charge cutter is taken as a prototype, in which 120 mm thickness concrete and 40 mm thickness steel layer are selected as target plates. The penetration models of the target in air and water are established, and the way of damage the pipeline is simulated and verified. The results show that the shaped jet cutter with cavity structure can effectively cut and destroy submarine pipeline under the requirement of easy carrying and control. At the same time, the enlightenments of the “Nord Stream” incident were analyzed to underwater demolition operation.