Russia agrees with Finland's proposal to create a monitoring system for the construction and maintenance of the Nord Stream gas pipeline, Russian Prime Minister Vladimir Putin said on Thursday.

"The [Finish] prime minister proposed that we set up constant monitoring on the construction and the maintenance of the gas pipeline...We agree with this proposal and will consider its implementation," Putin said at a press conference which followed talks with his Finnish counterpart Matti Vanhanen.

The Russian premier said he had also discussed with Vanhanen issues surrounding gas transportation security.

"We are and will continue working on this," Putin said.

The Nord Stream gas pipeline will carry 55 billion cu m of Russian natural gas annually to western Europe under the Baltic Sea. It will consist of two lines and, at 1,220 kilometers, is planed to be the longest underwater pipeline in the world.

It will run from the Russian city of Vyborg near the Finnish border to the German port of Greifswald. The first stage of the pipeline is expected to begin operating in late 2011 and the second in 2012.

LAPPEENRANTA (Finland), May 27 (RIA Novosti)