Ensuring energy security is a key constituent of any state’s national security policy, President Viktor Yanukovych said in a speech at the 48th Munich Security Conference, according to the Press office of President Viktor Yanukovych.

He noted that for Ukraine this is especially true, as under the extremely unfavorable gas trade agreement with Russia it has to pay a disproportionately high and economically unjustified price for gas.

"Ukraine’s example is a good evidence that we need to consolidate our efforts to develop clear, transparent, and fair rules in the energy sector to achieve a balance of interests between Ukraine as a major transit country, Russia as a supplier, and the EU as a consumer," he said.

President Yanukovych expressed his belief that future welfare and prosperity of the whole European continent depends on the parties’ ability to reach compromise in the spirit of solidarity and mutuality of economic benefit.