Gazprom: Conclusions in the Report Do Not Affect the Amount of Moldova’s Debt

According to Russian gas giant Gazprom, the Supervisory Board of Moldovagaz SA did not agree with the Report on the audit of Moldovagaz SA’s historical debt published by the Moldovan Ministry of Energy. In a press release, the Russian company says that the majority of the Supervisory Board’s members noted that the Report submitted for consideration “is not a report on the results of financial audit in accordance with International Standards on Auditing, which is separately specified in the text of the Report by its executors.” “In addition, the Report does not meet the audit independence’s requirements, as one of its executors has a conflict of interest with PJSC Gazprom.” The Moldovan party was notified of this circumstance in advance, but did not take any action to eliminate it. Therefore, the Report cannot be considered as a proper final document of an independent and reliable financial audit of SA Moldovagaz debt to Gazprom Group companies, as provided for by the agreements between PJSC Gazprom and the Government of the Republic of Moldova. “It should be reiterated that the conclusions contained in the Report cannot in any way influence the amount and validity of the said debt, especially since it is confirmed in the documents regularly signed by Gazprom and Moldovagaz and in the relevant international arbitration judgements,” Gazprom said in a statement.