AKAP Energy Begins Coverage of UK Helium Imports

AKAP Energy has started providing insights into the UK's helium imports: previously we had issues with the data quality, but we have managed to clean it up. The UK accounts for roughly 5% of the global demand, similar to Taiwan and Japan. As of Apr'24, the UK's import volumes stabilised at an average of 22mmcf/month (flat y/y). An important consideration is that the UK reports the country of dispatch, not the country of origin. This reporting nuance results in significant volumes being categorised under 'others', but encompasses all its sources like Algeria, Qatar, the US, and Poland. Notably, the UK has also received minor shipments from Russia and Canada. The UK’s helium imports are priced at a YTD to Apr’24 average of US$486/mcf (+6% y/y), which is in line with the global average import pricing. As sectors such as semiconductor manufacturing and airship production expand in the UK, we expect to see an increase in helium demand, influencing both import volumes and pricing dynamics.

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