ZUG, Switzerland, Nov. 18 (UPI) -- The first leg of the Nord Stream pipeline for Europe is more than half complete and on schedule to deliver gas in 2011, project officials announced.
Russian gas monopoly Gazprom aims to diversify its European transit options with Nord Stream. Construction on the 760-mile dual pipeline started in April and it will eventually pass through economic zones in Russia, Finland, Sweden, Denmark and Germany.
The Gazprom-led consortium announced that more than half of the first line was built and the project was set to deliver natural gas as scheduled.
"Everything is going according to plan and we are on budget and on schedule," said Nord Stream Managing Director Matthias Warnig in a statement.
The cost of the pipeline is around $10 billion. Once both lines are completed, which is expected to happen in 2012, it will be "the most advanced" and environmentally friendly of major pipelines for the European community.
Alexei Miller, the chief executive at Gazprom, said this week that the project reflects the "mutual interests" of Russia and the European Union.
Nord Stream will eventually carry enough gas to supply more than 26 million European homes.
