(Bloomberg) -- Ukraine offered Russia a discount for shipping natural gas to Europe to increase supply and ease the region’s energy crunch, President Volodymyr Zelenskiy said.

The discount applies to volumes beyond the contractual 40 billion cubic meters a day of natural gas that Ukraine already transports to Europe from Russia, Zelenskiy said Friday in emailed comments to Bloomberg News. Available capacity is also available for Gazprom PJSC, he said. 

“Ukraine offers this additional capacity to all potential transit countries,” Zelenskiy said. “We would like to see European companies as customers, but additional capacity is available for Gazprom as well. And with a discount compared to the current transit tariff, I can assume that this discount will be 50%.” 

Limited Russian shipments and low stockpile levels have left Europe in a gas supply squeeze ahead of the winter, with prices reaching record highs on the spot market. Russian President Vladimir Putin said his country is ready to boost supply to the European Union via the controversial Nord Stream 2 link immediately after it gets regulatory approval, in a move which many see as a blackmail.

To read more: Russia’s Fading Gas Leverage Raises Fears in Ukraine of War

Gazprom didn’t immediately respond to a Bloomberg request for a comment sent outside normal business hours.

Zelenskiy said Ukraine is discussing gas shipment proposal with Berlin and Brussels. “We expect them to take steps soon in practical negotiations on this issue, which is certainly important for the whole of Europe,” he said.

“Ukraine, for its part, guarantees transit, guarantees special anti-crisis conditions for transit in excess of the contracted volumes,” Zelenskiy said. “Let me be clear: I am sure that if we do NOT do this right now, Europe’s losses this winter will be enormous. Only rapid coordinated actions can stop the crisis.”

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