The Ukrainian government is currently holding talks with Russia's Gazprom to settle a dispute over 11 billion cubic meters of gas belonging to Swiss energy trader RosUkrEnergo, the Ukrainian Energy Minister Yuri Boyko said on Monday, RIA Novosti reported.

Energy giant Gazprom is Ukraine's main gas supplier and Kiev is counting on its neighbor to help find a way out of the conflict.

The Stockholm Arbitration Tribunal ruled on June 8 that Ukrainian state gas company Naftogaz owes its former gas supply intermediary, RosUkrEnergo, 11 billion cubic meters of gas, which the trader says was illegally confiscated in January 2009, as well as fines of 1.1 billion cubic meters.

"We are currently looking into the court's decision and holding talks with Gazprom in order to settle this situation without damaging the country's gas reserves," Boyko said.

"Nobody is going to hand over 11 billion cubic meters of gas and leave people without heating in the winter," he added.

Ukraine's energy minister emphasized that there could be no question of returning such a large amount of gas, even in installments.


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