Further Delays to New Russian Helium Facility Start-up

New Russian helium production from Irkutsk Oil has yet to start-up but it is still expected to shortly. It was expected to start production in February of this year after delays from the previous expected start-up at the end of November last year. It is unclear whether the decision to nationalise Uniper and sell its helium business will have any impact on Irkutsk's helium production. Irkutsk Oil and Uniper signed a long term Helium Sales and Purchase Agreement for the offtake of a portion of the liquid helium from INK’s future helium production from the Yaraktinsky field. The plant near Ust-Kut in the Irkutsk region in Russia is expected to produce approximately 10 million litres per year (~250mmcf/y) of bulk liquid helium when it reaches full capacity. Cryo Technologies, which Chart bought in February 2021, signed a contract to supply a 7.5mcm/year helium purification and liquefaction plant to Irkutsk.

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