UPDATE 1-Sweden approves Nord Stream link in Swedish waters

* Swedish govt approves 2 pipelines through its waters

* Says Nord Stream plans meet environmental requirements

* Finland expected to approve plans later on Thursday

(Adds detail, background)

STOCKHOLM, Nov 5 (Reuters) - A plan by Russian-German consortium Nord Stream to build a gas pipeline under the Baltic Sea cleared one of its final hurdles on Thursday as Sweden signed off on construction across Swedish waters.

Sweden had been assessing the environmental impact on the Baltic Sea. Denmark has already given its approval and the Finnish government is scheduled to hold a news conference at 1130 GMT on whether to permit construction in its waters.

That would still leave Germany to rule on the matter. Russian Prime Minister Vladimir Putin has in the past threatened to scrap the Nord Stream project if it were delayed by European governments.

The European Union depends heavily on Russian gas supplies and the issue has become all the more acute due to tensions between Russia and Ukraine, which pipes vast amounts of Russian supplies to Europe.