With the global demand for helium on the rise, industry interest in exploring Alberta’s helium potential is quickly gaining momentum.

In response to such interst, the Canadian provience has set a new royal helium rate of 4.25%, in order to set the stage for investment, while ensuring a fair price for Albertans.

Several companies have already expressed interest in Alberta’s helium potential, but the lack of a royalty rate has been a disincentive.

“Removing this barrier unlocks the potential to develop helium deposits in south-eastern Alberta and sets us up to take advantage of the close proximity of the US, the world’s largest helium consumer,” said Soya Savage, Minster of Energy for Alberta.

“Economic diversification is an essential part of the province’s recovery efforts and sets a course towards further prosperity.”

The effective royalty rate is set of an initial period of five years. At that time, the rate will be reviewed to ensure it remains competitive and allows for any necessary adjustments.