  We report results from an observation with the XMM-Newton observatory of a
unique X-ray pulsar 4U 1626-67. EPIC-pn data during the current spin-up phase
of 4U 1626-67 have been used to study pulse phase dependence of low energy
emission lines. We found strong variability of low energy emission line at
0.915 keV with the pulse phase, varying by a factor of 2, much stronger than
the continuum variability. Another interesting observation is that behavior of
one of the low energy emission lines across the pulse phase is quite different
from that observed during the spin-down phase. This indicates that the
structures in the accretion disk that produce pulse phase dependence of
emission features have changed from spin-down to spin-up phase. This is well
supported by the differences in the timing characteristics (like pulse
profiles, QPOs etc) between spin-down and spin-up phases. We have also found
that during the current spin-up phase of 4U 1626-67, the X-ray pulse profile
below 2 keV is different compared to the spin-down phase. The X-ray light curve
also shows flares which produce a feature around 3 mHz in power density
spectrum of 4U 1626-67. Since flares are dominant at lower energies, the
feature around 3 mHz is prominent at low energies.
