Abstract: The invention relates to an unbonded flexible pipe comprising a first pipe end, and a second pipe end. The pipe comprises a plurality of whole length layers extending from the first pipe end to the second pipe end and comprising at least a tubular inner sealing sheath, at least one armor layer, an outer protective layer and at least one thermally insulating layer arranged between the internal sealing sheath and the outer protective layer in an insulated length section. The at least one thermally insulating layer is terminated at a distal termination point in a distance from at least one of the first and the second pipe end of the unbonded flexible pipe.