Abstract: In the current context, the goals of Russia and China in achieving "carbon neutrality" by 2060 and strengthening their own energy resource and environmental security, the comparative study of the laws on transition towards low-carbon energy sources and new environmental standards declared by both countries is relevant and urgent. The subject of this research is measures to reform legislation in the sphere of exploration and extraction of natural gas in Russia and China, which can be divided into the following aspects: reform of the legislative system on the mineral resources and competitive transfer of the right to use the subsoil plots, reform of the law "On Foreign Investment" and definition of state strategic mineral resources, legal system of environmental protection, and reform regarding the protection of environmental resources in the mining districts. Based on comparative research in various legal disciplines, the author generalizes and analyzes the similarities and differences in ensuring resource and environmental security in Russia and China. This article summarizes the experience and shortcomings of Russia and China in maintaining balance between the national resource security and environmental security aimed at the achievement of "carbon neutrality". Stemming from the fact that both countries manage the appropriate resource and environmental security, China should adopt the Russian experience and transform the administrative provisions of the lower level associated with the protection of resources and environmental security into legislative acts, in order to enhance their law enforcement, compulsory and deterrent authority. Russia, in turn, should also resort to the experience of China in implementation of the factors of market competition in the sphere of exploration of oil and gas, as well as encourage and motivate foreign or domestic private capital to contribute to oil and gas exploration and help Russia to upgrade its equipment and boost production.

Abstract: China and Japan are the two largest importers of natural gas in the world. Both countries have accelerated the reform of domestic natural gas markets and the establishment of domestic natural gas trading centers (natural gas hubs) in order to achieve carbon neutrality goals and ensure the security of domestic natural gas supplies. The conclusion of short- and medium-term contracts for the supply of liquefied natural gas (LNG) affected the execution of long-term contracts, the prices of which were tied to JCC. As a result, Chinese and Japanese natural gas buyers began to demand that international natural gas sellers, including Russia, use hub market prices.
The article analyzes measures to ensure the security of natural gas supplies and reforms of domestic natural gas markets in China and Japan. The interrelations, advantages and disadvantages of long-term, short-term and spot contracts are highlighted. Based on the analysis of the court decision in the case of GNA v. Atlantic LNG, the conclusions of international arbitration practice on price revision clauses are summarized.

The following conclusions are drawn：
1. Arbitration proceedings on the revision of prices contributes to the transition from a formula for calculating prices linked to the oil price index to a pricing mechanism based on various indices of natural gas hubs.2. When concluding a new long-term contract, it is proposed to comprehensively use the price index of the emerging shopping center, the spot price and the price formula calculated by JCC.3. A long-term contract still plays an integral role in ensuring safe natural gas supplies in extreme events (for example: a similar COVID-19 epidemic).