Tel Aviv  - Israeli off shore drilling companies said Sunday they located gas reserves estimated to be worth up to 15 billion dollars, sending their stocks on a precipitous rise.

"The amounts of gas that were discovered will supply Israel's energy needs for decades - it is one of the largest finds in the world," said Yitzhak Tshuva, a principal stock holder in the Delek company, one of several groups who were part of a consortium of companies searching for gas off Israel's coast.

The find off the Haifa shore, gave several companies massive boosts. Delek saw its stock jump 40 per cent, while shares of Isramco, another member of the group, soared 120 per cent during day trading.

Moscow  - Russian Prime Minsiter Vladimir Putin and his Ukrainian counterpart Yulia Tymoshenko settled a contractual dispute on Sunday morning, allowing for an end to a week-long freeze on transits to gas-starved Europe.

The two premiers emerged from crisis talks that ran into the early hours of the morning Sunday with an accord on gas pricing for 2009, and pledged to resume gas transits to Europe as soon as the documents the documents were signed on January 19.

"Negotiations were very hard, but we have come to mutual understanding ... All natural gas supplies will resume as soon as these documents are signed," Tymoshenko said in a televised statement.

Moscow  - Russia and Ukraine settled their contractual dispute over gas supplies early Monday morning, bringing an end to a week-long embargo on transits to gas-starved Europe.

Russian Prime Minister Vladimir Putin and Ukrainian Prime Minister Yulia Tymoshenko said in a joint televised statement they would sign a new supply contract for 2009 on Monday, immediately freeing gas supplies via Ukrainian pipelines to Europe.

"All natural gas supplies will resume as soon as these documents are signed," Tymoshenko said.

Moscow  - Russian and Ukraine settled their contractual dispute over gas supplies early Sunday morning, ending a week-long embargo on transits to gas-starved Europe.

Essen, Germany - Slovakia, which has been hard hit by the Russian-Ukrainian gas delivery crisis has found a white knight in the form of Germany's RWE Power, which has promised Saturday to make gas deliveries.

The RWE deliveries are to begin Sunday morning with an increase of deliveries to begin on Tuesday, the company based in the western German city of Essen said.

The company has been working since Thursday to make possible a west-to-east flow of gas, something that has never been done before, reported the company.

Union Petroleum Minister, Murli Deora met Qatari deputy premier and energy minister, Abdullah Bin Hamad Al-Attiyah in New Delhi and discussed various issues of bi-lateral importance, including energy import and co-operation.

Mr. Deora set a proposal to offer 10 per cent stakes to Qatar in state run liquefied natural gas producer, Petronet LNG Ltd. Mr. Deora said, "This is a proposal that we made and in turn we will get a stake in RasGas. Qatar has been our most trusted and reliable friend and we hold this friendship in high esteem."