Deputy Prime Minister Igor Sechin met with European Energy Commissioner Andris Piebalgs and said Russia had recently drafted new proposals on international energy cooperation, including in the gas sphere.

Mr Sechin said the Energy Charter Treaty had not justified Moscow's expectations. "No mechanism for reacting to energy transit emergencies was created," he stressed. Notably, the concerned parties have failed to sign a transit agreement and to accomplish other objectives set before member-nations. "The Energy Charter Treaty has become non-viable," Mr Sechin said.

Mr Sechin discussed Russian gas deliveries to Europe and said Ukraine had to buy at least 19.5 billion cubic metres of gas in the near future and store that gas in underground reservoirs in order to ensure uninterrupted Russian gas transits to European consumers. He warned European colleagues that the January 2009 tragedy would escalate into disaster, unless this was done. "This will be linked with the fact that the Ukrainian network had the required underground reservoir reserves in January. Due to the January situation, such reserves are now lacking," Mr Sechin said.

Mr Sechin said Russia had created sufficient gas reserves to facilitate reliable deliveries for the domestic market. "We have gas, and our customers will not suffer," Mr Sechin stressed.