Aug 3, 20221 min
In Air Products' results it announced in its Q2'22 results that it had terminated a long term sales contract that resulted in a reduction of purchase obligations related to helium and rare gases decreased from ~US$8.3 billion as of 30 September 2021 to ~US$6.9 billion as of 30 June 2022. The majority of its obligations occur after fiscal year 2027. Helium purchases include crude feedstock supply to helium refining plants in North America as well as refined helium purchases from sources around the world.
Air Products incurred higher costs to support long-term growth, such as costs for resources needed to bring projects onstream as well as costs for a helium storage cavern to support reliable helium supply to its customers globally.