FAF to hold quota share auction for Atlanto-Scandian herring in Faroe Fishing Zone

Russia’s Federal Agency for Fisheries (FAF), by Order No. 119 of March 19, 2021, made a decision “to hold an auction on May 12, 2021, for the sale of the right to conclude an agreement on securing the share of the quota for the extraction (catch) of aquatic biological resources provided by the Russian Federation in the areas of operation of international treaties of the Russian Federation in the field of fisheries and conservation of aquatic biological resources for commercial fishery and (or) coastal fishing”, reports Megafishnet.com

According to FAF, the auctioned shares of Atlanto-Scandian herring quotas will include a total of 7 lots with 6 shares of 14.3% and one share of 14.2%. The initial prices of the lots are set at 178.3 million rubles and 177 million rubles, respectively.

Applications for participation in the auction are accepted from 23 March 2021 to May 4, 2021 at the FAF address in Moscow.

The auction will be conducted in accordance with part 4 of article 29, article 38 of the Federal law dated 20 December, 2004 No. 166-FZ "On Fishery and Conservation of Aquatic Biological Resources".

Agreements on assigning the share of the quota for the extraction (catch) of aquatic biological resources will be concluded with the winners in accordance with Part 9 of Article 31 of Federal Law No. 166-FZ of December 20, 2004 "On Fishery and Conservation of Aquatic Biological Resources" for a period of fifteen years.