Global Helium Market in 2023

Intelligas estimates global helium supply in 2023 at about 5.9 billion cubic feet (BEF), up from about 5.7 billion cubic feet (BEF) in 2022 and back to 2021 levels.

We predict that if large-scale new helium sources come online, global supply will experience a demand deficit by the end of 2024. The shortage that began in early 2022 when the first two LNG trains in the Amur region exploded is still having an impact. History tells those of us in the helium industry that large plants often experience delays due to unexpected technical issues. There remains a great deal of uncertainty.

While shortages occurred in 2022 due to a series of unrelated events, major sources have so far not experienced such disruptions in 2023, but problems remain, such as helium supplies from Algeria and the Amur region, which were reduced until recently.

Otherwise, the Bureau of Land Management (BLM) is functioning well. The plant was shut down for planned maintenance in mid-April and resumed normal production on May 1. ExxonMobil has been offline for about a month for planned maintenance starting July 10. A weakening global economy has also dampened demand for helium, easing some supply challenges. But sometimes slower container shipping can still be a problem. As helium suppliers struggle to deliver under these conditions, it is a reminder that the helium supply chain is fragile.