Photo from UNIAN Vice-President of the European Commission in charge of Energy Union Maros Sefcovic says that the duration of a new contract for Russian gas transit supplies via Ukraine should be over 10 years. "From my point of view, what is really necessary is that the contract should be of long duration – these are contracts with duration 10+ years," he said following the second round of trilateral EU-Ukraine-Russia gas talks in Brussels on Monday, January 21. Read alsoSefcovic on gas supply from Russia via Ukraine: Everything under control He also says that gas transit volumes should be commercial viable to attract investment in Ukraine&#39;s gas transmission system. "Then of course, if comes to the volumes, there should be commercially viable volumes, because we would need to bring investors into the modernization and upgrade of Ukrainian transmission systems. And we also would like to invite European highly reputable companies to take part in this," he said. "Of course, these volumes must reflect such a longer-term perspective of what we are used in transitional transit volumes from Russia to Ukraine." Sefcovic also expressed the hope that the new gas transit agreement would be signed by the end of the year. "These are parameters that are achievable, which we explained in great detail to both parties, and which I believe will bring us to the situation when we&#39;ll have a new contract before the end of the year, by next year, and in the way that the long-term transit via Ukraine would be secured," he said.