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Law on settlements in rubles for services rendered at LNG offshore transhipment complexes in Russia’s Arctic zone

April 16, 2022

Vladimir Putin signed Federal Law On Amendments to Article 2 of Federal Law On Amendments to Federal Law On Sea Ports of the Russian Federation and On Amendments to Certain Legislative Acts of the Russian Federation.

The Federal Law stipulates that prices (tariffs, rates) for services at sea port transhipment facilities on loading, unloading and storing liquefied natural gas produced in the Arctic zone of the Russian Federation, which are set for the duration of the pay-back period in building and operating such transhipment complexes, can be quoted in foreign currencies on condition that the settlements for the respective services are made in Russian rubles.

April 16, 2022