“The financial situation at Naftogas is very difficult. Naftogas may face serious problems with paying for gas supplies in May. During the meeting Gazprom pointed out the need to fill Ukraine's gas storage facilities for the winter period. We also reminded our partners that if Naftogas doesn't pay on time, we'd have to switch to charging 100% in advance.”

Gazprom says it’s still possible to avoid the crisis, but for that Russia and Europe have to invest together. Moscow is ready to do its part while Europe remains reluctant to lend the transit country, according to Energy Minister Sergey Shmatko.

“The EU has no adequate estimation of the problems that may occur with the stability of gas supplies in the coming winter. We are concerned that Ukraine won’t keep to the schedule of filling its gas storages. This may result in serious problems with gas supplies to Europe next winter. Besides, we hear more often President Yushenko’s calls to review the current gas contracts.”

So far the only party which stands for joint approach is Italy – one of Europe’s biggest consumers of Russian gas. Italian leader, Silvio Berlusconi, believes Europe needs to be more proactive.

“Russia says it cannot provide five billion dollars to fill gas storages in Ukraine. That's why I call on Europe to share expenses. At the next session of the Council of Europe I'll offer this to the Russian Federation. So, Europe wants to take part of this problem upon itself."

The risks are high and the time presses. If Ukraine doesn't pump the gas on time Europe may yet again be left without heat this winter. President of the European Commission says they're looking very closely into the problem and promises to raise the issue at the June summit of the EU countries.