This, he claimed, broke a five year old undertaking, and damaged holders of the original ADSs, such as himself, by undermining the scarcity value of their investments.
Meanwhile, evidence has also arisen of links between Gazprom and rival gas producer Itera - a document relating to the founding of Itera in Florida in 1996 reportedly lists Gazprom as one of its managing partners. Itera came from a market share of zero in 1996 to be Russia's second biggest gas producer today.
The EBRD withheld $250m of lending from Gazprom at the end of January and awaits the result of independent audits of the relationship between Itera and Gazprom, launched by minority shareholders in Gazprom, and by the State Audit Office.
Despite these concerns, a banker at one of the mandated lead managers for Gazprom's Eurobond said a roadshow was pencilled in for early next month, and was only being held up by the preparation of paperwork.
An analyst at a securities house in Moscow was also upbeat about the bond's chances: "Other Russian companies have had bad corporate governance records too, but proved good debtors. Gazprom is probably the best corporate performer in Russia to invest in right now, assuming lenders do not care about shareholder rights."