The Russian energy monopoly "Gazprom" hopes to sign a bi-lateral agreement for the transit of Russian gas with the Ukraine as early as Saturday, the "Gazprom" spokesperson Sergey Kupryanov informed.

"Gazprom" further hopes to reach an agreement about the prices of Russian gas for the Ukraine, Kupryanov said, cited by the Bulgarian information agency BTA.

He announced that the formation of the International Consortium for the transport of Russian gas to European consumers could also take place by the end of the day.

"The most important task now is to resume gas deliveries to Europe. In the last three days we have been fully prepared to do just so," the spokesperson declared, adding that preliminary agreements about the formation of the Consortium have already been reached with Italy, Germany, France and Austria.

In the mean time, Russian President Dmitry Medvedev told participants in the international summit in Moscow that all efforts were not yet yielding the desired results. The summit convened Saturday to seek solutions for the gas crisis.

Medvedev did, however, reassure them that Russia was striving to end the conflict as quickly as possible, adding the decision could be reached very quickly with cooperation from all parties involved in the conflict.

The summit is being held behind closed doors. Upon its conclusion, participants are expected to give a press conference for the 400 reporters, who have gathered in Moscow in anticipation of the results.

The Prime Ministers of Russia - Vladimir Putin and the Ukraine - Yulya Timoshenko are also attending the summit. They are expected to continue their talks after the summit's end.

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