MOSCOW, November 13. /TASS/. The Supervisory Board of Moldovagaz has not approved the audit report of the company’s gas debt to Gazprom, the Russian gas holding announced.

"Based on the results of the meeting that took place on November 2, 2023, the supervisory board of JSC Moldovagaz did not approve the audit report released by the Ministry of Energy of the Republic of Moldova on September 6, 2023 regarding the historical debt of JSC Moldovagaz to the companies of the Gazprom Group for gas supplied to consumers on the right bank of Dniester," the statement says.

Conclusions from the document cannot influence the size and validity of the debt, which is confirmed in documents regularly signed by Gazprom and Moldovagaz and in the relevant decisions of international arbitration.

In particular, this report "is not a report on the results of a financial audit in accordance with international auditing standards, which is specifically stated in the text of the report by its executors." In addition, it does not meet the requirements of audit independence, since one of its performers has a conflict of interest with Gazprom, the Russian holding noted.

"The Moldovan side was notified in advance of this circumstance, but did not take any action to eliminate it," Gazprom noted.

"In this regard, the report cannot be considered as an appropriate final document of an independent and reliable financial audit of the debt of JSC Moldovagaz to the companies of the Gazprom Group, as provided for in the agreements between PJSC Gazprom and the government of the Republic of Moldova," the Russian company concluded.

About Moldova's gas debt

In early September, Moldovan Energy Minister Viktor Parlikov stated that, based on the audit results, the republic was prepared to pay $8.6 mln out of a $709 mln of debt to Gazprom. No supporting documents were submitted for the amount of $276 mln, and another $400 mln was not recoverable due to the statute of limitations, he said, adding that the republic was prepared to debate these figures with Gazprom in an international court.

Gazprom strongly disagreed with the audit of the historical debt for gas carried out by the Moldovan side and declared its intention to continue to defend its legal rights by all possible means.

One of the main conditions on which Gazprom management agreed in October 2021 to extend the contract for gas supplies to Moldova for the next five years was repayment of the debt for fuel and timely payments. During the negotiations, Chisinau insisted on an international audit of the country’s gas debt and pledged to organize and present its results by May 1, 2022. The Moldovan side did not fulfill its obligations, but the Russian gas holding continued gas supplies to the republic.