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WSJ: EU approves increased Gazprom use of key connector pipeline

Published 10/25/2016, 07:24 PM
WSJ: EU approves increased Gazprom use of key connector pipeline
  • The European Commission has authorized Russia’s Gazprom (MCX:GAZP) to ship more gas through the key Opal connector pipeline in Germany, WSJ reports.
  • The deal on the pipeline comes as the commission nears a settlement of its antitrust charges against Gazprom, on which a preliminary agreement could be announced as early as Friday, according to the report.
  • Opal stretches nearly 300 miles from the German Baltic Sea coast to the Czech-German border, and is the one link between Gazprom’s Nord Stream pipeline, which ships gas directly from Russia to northern Germany and central and eastern Europe, markets the company can otherwise only reach via Ukraine.
  • The apparent deal shows that Russia and the EU are taking pragmatic steps to ease some of their business ties, especially on the energy front, despite growing tensions concerning Russia's bombing campaign in Syria.

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