Trilateral talks on Ukraine gas reaches agreement: EU

(L-R) Russian Energy Minister Alexander Novak, outgoing European Energy Commissioner Guenther Oettinger, outgoing European Commission President Jose Manuel Barroso, incoming EU Energy Commissioner Maros Sefcovic, Ukraine's Energy Minister Yuri Prodan and Andriy Kobolev, chief executive of Ukrainian state gas company Naftogaz, attend a signing ceremony after gas talks between the European Union, Russia and Ukraine at the European Commission headquarters in Brussels, Oct 30, 2014. [Photo/Agencies]

BRUSSELS - The European Union (EU) on Thursday said that trilateral talks on Ukraine gas issue has reached an agreement.

According to EU officials, the trilateral gas talks among Ukraine, Russia and the EU has been concluded with an agreement to sign contract to guarantee Russian gas deliveries to Ukraine through March 2015.

Speaking at a press conference, European Commission President Jose Manuel Barroso and Energy Commissioner Gunther Oettinger expressed welcome over such agreement.

Barroso called the agreement enabling continued gas supplies as best way to end his mandate as President of the European Commission, saying it is an important step for shared energy security on European continent.

"No reason now for people in Europe to stay cold this winter," Barroso said.

Oettinger also said citizens of Europe will get guarantee of gas supply this winter.

From the talks, Ukraine gained a discount price of $378 per 1,000 cubic meters by the year end and is about to pay $1.45 billion of gas debt immediately.

According to Oettinger,Ukraine will use EU and IMF aid to pay for Russian gas..