US Boosts Helium Production, Yet Imports Rise in 2024
Despite a global helium glut, the USA imported around 12 million cubic meters of the gas in 2024. To understand this apparent contradiction, Molly Burgess spoke with David Burns, President of Capitol Operating Group, about helium production and strategy.
In 2023 and 2024, several companies boosted US helium production. Mosman Oil and Gas Limited began helium extraction at the Vecta project in Colorado, while Pulsar drilled the Jetstream #1 well, yielding helium concentrations between 8.7% and 14.5%, among the highest globally. These efforts led to a significant increase in US production, supporting growing demand from industries like healthcare and aerospace.
Industry experts believe expanding US production capacity can help balance import dynamics. Indeed, US helium imports rose by one million cubic meters in 2024 compared to the previous year. However, price remains the primary factor driving US helium delivery, with exports increasing by approximately two million cubic meters in 2024.
Despite increased US production, helium imports rose in 2024, highlighting the need for further capacity expansion. Price continues to be the key driver for US helium exports, indicating a complex market dynamic at play.
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