Helium Shortage Sparks Interest in Canadian Reserves

An unexpected surge in demand for helium has caught industry players off guard as supply chains have been disrupted due to turmoil in the Middle East. The oil and natural gas markets may be garnering more attention following the U.S. and Israel's war on Iran, but its impact on helium supplies cannot be overstated.

Chris Bakker, chief executive of Avanti Helium Corp., recalled receiving an inquiry from a prospective customer in the Middle East who is normally reliant on Qatar for their supply. This has led to interest in alternative sources, with Canada's raw resource being a potential solution.

Canada has one-fifth of the world's helium reserves but makes up only about two percent of global production. To address this imbalance, North American Helium is looking to establish a helium hub in southwest Saskatchewan and build the country's first liquefaction facility.