The $15bn Amur Gas Processing and Helium Plants could have the biggest impact on helium to 2027, according to consultant Phil Kornbluth – and potentially lead to oversupply in a notoriously capacity-constrained market in recent years.
Speaking to delegates via video at the Asia-Pacific Industrial Gases Conference in Kuala Lumpur, the Founder & President of Kornbluth Helium Consulting said there was modest ‘underlying’ demand growth, partially offset by reduced demand for MRI and demand destruction due to price elasticity of demand.
While this year has seen fewer maintenance outages, he said the slump in semiconductor manufacturing has reduced demand, especially in Asian markets, and it is still difficult to source new helium supply.
Significant cost increases for ExxonMobil’s and Qatar 2 customers provide support for high prices in another key trend.
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