Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Itera Report Not Yet Ready

A PricewaterhouseCoopers report into Gazprom's links to a trade partner, expected Friday, is not yet finished, a PwC spokesman said.

"We have been commissioned to do this report by the external board of directors, but it is still ongoing and is not concluded," the spokesman said. He could not say when the report would be available.

PwC was asked to look at links between gas monopoly Gazprom and Itera, a once obscure company that has grown into a multibillion-dollar concern reselling Gazprom's gas in other former Soviet states, after allegations by some minority investors of asset transfers and transactions at below market prices.

Minority shareholders opposed awarding the investigation to PwC because its previous audits of Gazprom noted nothing unusual in links between Gazprom and Itera.

Itera, a Florida-registered minor gas producer, sends some 80 billion cubic meters of gas per year via Gazprom pipes. Boris Fyodorov, the champion of minority shareholders' rights on the Gazprom board, had said in a conference call after a board meeting Tuesday that PwC said it would send the report to the company on June 22.