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The Baltic Sea pipeline gets a major boost

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The Baltic Sea pipeline gets a major boost

The Russian-German consortium, Nord Stream, was jubilant on Thursday after Sweden and Finland approved the parts of the gigantic gas pipeline that would go through their waters. Nord Stream, owned by Russia's Gazprom, Germany's BASF and E.ON, plans to build a natural gas pipeline from Russia to Western Europe as an alternative to the current one, which presents a continuous risk of supply disruptions thanks to a long-standing dispute between Russia and Ukraine. Russian Prime Minister Vladimir Putin was jubilant and profusely thanked Sweden and Finland on their “wise” decision. The new pipeline will probably start operating in 2012. Read more: Reuters

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