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helium-super-summit-new-us-helium-sources-will-be-needed-says-garvey
helium-super-summit-new-us-helium-sources-will-be-needed-says-garvey

Helium Super Summit: New US helium sources will be needed, says Garvey

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Global helium supply has moved from balance to oversupply in 2024, with enhanced storage options improving the picture, but the signs are that North America will need to boost supply in the years ahead in order to maintain meeting regional demand needs.

The assessment came from Maura Garvey, President of Intelligas Consulting, presenting at the Helium Super Summit 2024 in Houston.

Looking at how the supply and demand picture could evolve over the next five years, Garvey said that global demand was likely to grow at around 2.5% per year as economic conditions improve, with electronics likely to play a substantial part in that expansion, as new supplies come reliably onstream.

Medium to large sources of helium began to hit the market in 2023 and 2024 from Irkusk, Amur, and Freeport LNG. Between them, these sizeable new sources took helium into oversupply, though the picture is far from straightforward, with geopolitical uncertainties in the mix, from the US and EU sanctions on Russia hampering Russian supply to an extent, and regional instability in the Middle East.

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