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Germany OK's EU gas directive amendments, easing path to Russian pipeline

  • Germany's parliament voted yesterday to approve changes to the law governing the Nord Stream 2 gas pipeline to make it compliant with European Union regulations, removing a hurdle to completion of the project.
  • Germany's economic affairs and energy minister says the law will determine how to implement internal market rules around gas pipelines from non-EU countries.
  • Two weeks ago, Denmark removed the last major hurdle to completion of the pipeline by approving construction of sections under its jurisdiction.
  • The pipeline portion under the Baltic Sea is fully owned by Russia's Gazprom (OTCPK:OGZPY), whose European partners in the broader project are Royal Dutch Shell (RDS.A, RDS.B), Germany's Uniper (OTC:UNPPY) and BASF (OTCQX:BASFY), Austria's OMV (OTCPK:OMVJF) and France's Engie (OTCPK:ENGIY).

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