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Canadian Helium Exports Hit Record Levels in 2022

Canada has shown significant helium production growth with more to come. We estimate that Canada exported 180mmcf of helium to the US in 2022, which is up 63% y/y. This takes Canadian production to around 3% of global helium supply. In December 2022, we estimate exports of 20mmcf, which on an annualised basis is 240mmcf, implying further strong growth in 2023. The growth in production has come from North American Helium ramping up production in Saskatchewan and Thor Resources in Alberta. 2022 has seen a surge in Canadian helium E&P activity and there is further growth expected in Q2'23 from Royal Helium's Steveville start-up as well as the potential for further new facilities to come online in H2'23.

Canadian Helium Exports to the US (mmcf)

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