Helium swings from balance to surplus – but uncertainties remain.
Our assessment of the worldwide helium demand is about 6.0 billion cubic feet (Bcf) for 2024, while supply will be about 6.5 billion cubic feet, up from about 5.9 in 2023 – putting helium in oversupply.
The storage facilities put in by Air Liquide in Germany and more recently by Air Products in Texas are being utilized to absorb the excess production. The Federal Helium System now owned by Messer is again acting as a flywheel, with excess production reinjected into the field, while Linde’s planned storage facility in Texas is not yet online.
This is a significant swing from the shortage in 2022. Helium demand is projected to grow at about 2% to 3% per year over the next five years – much more slowly than the rate of the new planned supply. So, as it stands, worldwide supply will continue to be in surplus if the large new sources of helium continue to come onstream as planned.
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