What are the potential environmental impacts of this?
Yes, it's a lot, but unlike an oil spill there won't be much other impact.
[1] https://www.zeit.de/wissen/umwelt/2022-09/nord-stream-pipeli...
https://news.err.ee/1608730996/scientist-minimal-lasting-env...
[0]https://www.theguardian.com/environment/2022/sep/28/nord-str...
[1] https://twitter.com/SaschaBay/status/1574664872293715968