“We are adjusting [to the new supply reaching Asia from Russia],” said Seifi Ghaesmi, CEO, Chairman and President of Air Products on the company’s latest earnings call.
He said the new supply had impacted business conditions in China in particular in respect of the helium market. But he said the adjustment had happened now and stabilised, and said Air Products expected the current market conditions to prevail for the remainder of the year.
The Amur facility originally started producing helium in 2021 but was then hit be a fire and the plant and was out of commission for 20 months. Now one of the three helium trains is running at full capacity, with the second train expected to start at some point this year and the third expected to come onstream in 2025 or 2026. Total capacity of the three trains is about 2.1bcf, which is about a third of current global capacity.
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