The nomination process begins on the 1 of December and ends on the 28 of February. Candidates for the Prize can by nominated by:
Nominators suggest candidates for the Prize by submitting pre-defined nomination forms. Once the nomination process is closed on 1 March, the Experts Pool provides a preliminary expert assessment of the nominees and their scientific achievements. The Experts Pool consists of independent international experts from international energy organisations, scientific bodies and energy industry. The Experts Pool's recommendations are forwarded to the International Award Committee, which make the final selection of the winners in April.
The prize is presented to the laureates by the President of the Russian Federation during an official ceremony, which takes place at the St Petersburg International Economic Forum. Laureates receive a commemorative medal and a Prize of RUB 39 million.