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Last Updated: Friday, 15 February 2008, 10:32 GMT
Price dip hits Gazprom's profits
Gazprom gas pipeline
Gazprom supplies Europe with a quarter of its gas
Russian natural gas monopoly Gazprom has reported a slight fall in nine-month profits, because of a dip in prices and demand.

For the nine months to 30 September 2007, Gazprom made a pre-tax profit of 611bn roubles ($25bn; 13bn), down from 623bn roubles a year earlier.

Its sales rose to 1.7 trillion roubles from 1.6 trillion a year earlier.

Gazprom supplies a quarter of Europe's gas, with much of the gas being piped via Ukraine.

Ukraine row

Earlier this week, Russia and Ukraine reached a deal over Kiev's $1.5bn unpaid bill to Gazprom.

Gazprom had earlier threatened to switch off supplies if the money was not paid.

The spat was just the latest dispute between Russia and Ukraine over gas exports.

A previous row in the winter of 2005/2006 saw a reduction in Gazprom's supplies to western Europe, as a number of pipelines pass through Ukraine.

Gazprom has also had similar disputes with Belarus and Georgia.



SEE ALSO
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