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Australian helium production likely to cease later this year

According to Santos, the operator of the Bayu Undan gas field in Australia, production in Q2’22 was weaker in Q2’22 (-45% q/q and -70% y/y). The field is expected to continue to decline and production is anticipated to cease in late 2022. Our helium export data from Australia (implied from import data due to the lack of Australian data) shows weaker helium exports in 2022 so far to date. Australia produced around 135mmcf of helium in 2022 on our estimates (2% of global supply). This will deal yet another blow to global supply impacting the Asian market.

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