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Subsoil Legislation

Marc Polonsky and Sergei Stepanov
Participation in Subsoil Use Auctions: Law and Practice

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Foreign Investment

Thomas O’Brien and Victor Mokrousov
Implications of the New Priority Right for Subsoil Investors

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Energy Law

Jack Neushloss
Market Reform of the Russian Power Sector – New Developments

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Contracts

Abai Shaikenov and Yuliya Mitrofanskaya
The Limits of Stabilization Rights Under Subsoil Use Contracts and the Effect of De-Stabilizing Clauses with Respect to Mandatory Payments

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Oil and Gas Tax Guide

Victor Borodin and Alexander Smirnov
Oil & Gas Tax Guide to Russia

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Arbitration Practice

Alexey Bukhtiyarov
Some Issues in the Kazakhstani Laws with Regard to Full-fledged Implementation of the Right to Refer Disputes to Arbitration Courts and International Commercial Arbitration Institutions

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Yelena Novikova
Concerning the Need to Extend the Use of Mediation Proceedings to Resolve Disputes in the Field of Subsoil Use

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GOTO CURRENT YEAR ISSUES
Yelena Novikova, Doctor of Law, Lead Research Associate, Center for Environmental Law Studies at the Institute of State and Law with the Russian Academy of Sciences

Yelena Novikova,
Doctor of Law, Lead Research Associate, Center for Environmental Law Studies at the Institute of State and Law with the Russian Academy of Sciences

EDITORIAL

Dear Colleagues,

The Russian State Duma has voted on the new Draft Law “On Subsoil” submitted by the Russian Government. The advantage of the new Draft is the replacement of the administrative model of subsoil use regulation for all types of usage of subsoil (inc. petroleum) with a contractual one, which provides the parties with equal opportunity and places them on equal legal footing.

The main objective of the contrac- tual model implementation in sub- soil use is to stabilize the rules. In order to provide this stability, the legal mechanism should include:

! stabilizing provisions of a contract to protect a subsoil user from changes in legislation (“grand- father clause”);

! provisions for voiding, termina- ting or suspending a contract and inclusion of a complete list of terms and conditions for the men- tioned actions;

! provisions limiting subsoil user liability for the damage caused by past activity;

! protection of the parties’ rights in independent arbitration based on international law practices.

However, this mechanism is omit- ted in the Draft, the latter contai- ning none of the considered ele- ments of the mechanism to pro- vide the needed stability in the rules.

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