EU Sees High Chance of Winter Gas Deal After Ukraine-Russia Talks

The European Union proposed a gas deal between Ukraine and Russia in Berlin on Friday that would guarantee Ukraine at least 5 billion cubic metres of gas for the next six months, European Energy Commissioner Guenther Oettinger said.

Oettinger said there was a "very high chance" that all sides would agree to the interim deal to ensure Ukraine's gas supply over the winter, following the talks mediated by the EU.

The price discussed was $385 per cubic metres and Oettinger said the deal would involve Kiev paying $2 billion by the end of October and a further $1.1 billion by the end of the year, with the International Monetary Fund putting up guarantees.

(Reporting by Erik Kirschbaum and Markus Wacket; Writing by Stephen Brown and Alexandra Hudson)