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9

Russian Gas Giant Income Tripled

The net income of Russian natural gas monopoly rose 24 percent last year

The net income of Russian natural gas monopoly Gazprom rose 24 percent last year, according to Russian accounting standards, after the company reached an agreement over Ukraine's gas debts and lowered 2003 net income.

Net income rose to 161.1 billion rubles ($5.8 billion) from 129.67 billion rubles the previous year/ according to Interfax.

Gazprom lowered 2003 net by 9 percent from 142.6 billion rubles after changing its accounting policies. The news agency did not report the changes.