The increase is largely down to higher prices of gas and to larger gas supplies to customers in Europe as well as in Russia, Gazprom's press release says.
In 2003, the average price of natural gas on European markets (including excise duty and excluding VAT) rose 12 percent year-on-year, following an oil price hike.
The 25 percent increase in Gazprom's average price of natural gas (including excise duty and excluding VAT) on domestic markets came following the Federal Energy Commission's decision to bring domestic gas tariffs up.
Gazprom's net earnings from gas exports to Europe (excluding VAT, excise and customs duties) came to 422,316 million rubles in 2003, as against 335,115 million rubles one year before. The company's gas exports grew by 12.5 percent, to 144,007 million cubic meters.
Gazprom exported 42, 006 million cubic meters of natural gas to countries of the former Soviet Union in 2003-the same amount as a year earlier. Sales proceeds (excluding VAT, excise and customs duties) dropped by 13.7 percent-down to 44,049 million rubles.
Net earnings from the sale of natural gas in Russia (excise and VAT not included) was 186,650 million rubles, as against 142,854 million rubles in 2002.The supplies grew 3.4 percent-to reach 308,002 million cubic meters.
Proceeds from the sale of gas condensate and refined products (excluding VAT and excise duty) came to 92,180 million rubles in 2003, as compared with the previous year's 56,647 million rubles. Earnings from the sale of transportation services (VAT not included) reached 28,226 million rubles, as against 18,028 million rubles in 2002.
By the International Financial Reporting Standards (IFRS) , Gazprom's 2003 net earnings were 159,095 million rubles, against 28,955 million rubles in the year 2002, the company reports in its press release.
