The end to the dispute seems to be near with Russia is expected to resume its supplies to Ukraine this week following an EU agreement with monitors being deployed to monitor gas flow in Ukraine.

Gazprom can also not afford to delay the end of this dispute for much longer as it has already cost the sate-owned gas group and estimated $800 million in losses since it ceased supplies to Europe this month.

An agreement between Russia, Ukraine and the EU has been signed aimed at resuming Russian gas deliversies to the rest of Europe.

However according to Gazprom it had not received the documents needed from Ukraine before re-opening gas flows shut last week.

The European Union has deployed monitors to the main gas dispatch centre controlled by Naftogaz, the Ukrainian state gas company.

Another team would be stationed at Gaz-prom's main dispatching centre in Moscow.