HeLIX Exploration PLC (AIM:HEX) CEO Bo Sears addresses the recurring global helium shortages over the past two decades, highlighting the main sources of helium linked to large-scale natural gas production, notably in Qatar and the United States via ExxonMobil's LaBarge field.
Sears stressed the impact of production halts, both scheduled and unscheduled, on global helium supply, which has become more frequent over the years. He advocated for helium extraction as a primary focus rather than as a byproduct of natural gas processes, noting the economic and practical advantages of prioritising helium due to low natural gas prices in the United States.
Sears also pointed out the significant repercussions of helium shortages for major industries. Companies like Siemens and GE, which rely on helium for operating MRI machines, face operational disruptions when supplies are low.
Additionally, the supply chain issues extend to sectors like fibre optic manufacturing, where allocation disparities arise, prioritising major users while limiting supply to others considered less critical. Sears emphasised the urgent need for increased helium production to meet the growing demand and prevent further disruptions.
