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The Moscow Times: PwC Says It Remains Sakhalin-2 Auditor

Tuesday, April 17, 2007. Issue 3638. Page 5.
Bloomberg

PricewaterhouseCoopers remains an auditor of Sakhalin Energy Investment Company, the operator of Gazprom’s Sakhalin-2 liquefied natural gas project in Russia, PwC said Monday.

Interfax reported Thursday that Russia plans to dismiss PwC as an auditor, citing Industry and Energy Minister Viktor Khristenko in a report to the government.

The Russian arm of PricewaterhouseCoopers, the world’s largest accounting firm, has been Sakhalin Energy’s external auditor for over 10 years “and continues to enjoy a professional relationship” with the company, PwC said in a statement.

PwC has also performed the annual spending review required by the gas project’s production sharing agreement through 2005, the company said. This annual audit for years beginning with 2006 will be carried out by a Russian company, PwC said.

PwC is defending itself in local courts against charges that it helped Yukos evade taxes. State-owned carmaker AvtoVAZ earlier this month dropped PwC as its auditor and switched to rival Ernst & Young.

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