The European Union is ready to continue trilateral talks in settling the Russian-Ukrainian gas dispute, and says that the agreed price of gas for Ukraine should reflect market conditions.

European Commission President Jose Manuel Barroso said in a letter to Russian President Vladimir Putin sent on behalf of the EU in response to a letter from the Russian president dated May 14.

"I would like to reiterate the readiness of the European Union to continue the substantive trilateral discussions, and to help find a rapid and sustainable solution acceptable to all parties," the letter reads.

The EC president noted that they had earlier held discussions that covered the issue of the price for gas supplies to Ukraine and established the willingness of the government of Ukraine to pay the agreed upon arrears.

"It is imperative that all sides continue to engage in this process constructively and also agree on a future price that reflects market conditions. As long as the trilateral talks are ongoing, gas flows should not be interrupted. I expect the Russian Federation to maintain this commitment," he said.

According to him, it continues to be Gazprom's responsibility to ensure the deliveries of the required volumes as agreed in the supply contracts with European companies.

"I also note that the European Union expects the Russian Federation to activate the early warning system well in advance if ever the need arises," he wrote.

The EC president said that a structural solution requires that all parties commit to ensure transparency and market opening in the Ukrainian gas sector, and transparent conditions for gas storage in, and gas transit via, Ukraine, for example by means of cooperation among all the Transmission System Operators involved and construction of the necessary gas metering stations at the Russian-Ukrainian border.

"In this regard, the European Union is prepared to provide actual data on the incoming gas flow from Ukraine. I expect both the Russian Federation and Ukraine to also commit in the short term to provide actual data on gas inflow and transit through Ukraine," he said.

Barroso recalled the European Union expected all sides to will remain reliable and responsible supply and transit partners.