Helium has always been a global commodity, like all industrial gases, but its status as a non-renewable resource gives it a distinct exposure to global market forces as well as geopolitical ones.
2024 has been an interesting year to date in helium, mainly because of the increase in supply flowing into Asia from Gazprom’s Amur plant, which started up again towards the end of last year and is now having a significant impact on the global picture and has effectively helped to bring to close a period of straitened supply (Helium Shortage 4.0, so-called).
The year also started with the sale, much-delayed and contested in the run-up, of the US Federal Helium Reserve. Not so long ago, this was the crucial element in global helium supply, but that is less the case today. The sale to Messer for less than might have been expected is still notable, however (see side panel).
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