Gazprom Reports ~240mmcf Helium Production in 2023

Gazprom's 2023 annual report confirmed helium production of 6.3mmcm (~240mmcf) for the year (+70% y/y). Over the past nine months, Russian helium exports have increased in Asian markets, starting in China and expanding to India, South Korea, and Taiwan. Although Russian volumes were also rising in Europe, recent EU sanctions will likely restrict this growth. As of 31 December 2023, two out of three helium units were operational at the Amur Gas Processing Plant. However, based on our 2024 data, the two helium units are running well below total capacity. All process trains were launched independently of foreign licensors. The Amur plant, commissioned to supply liquid helium globally recovers helium from feedstock sourced from the East Siberian fields. Once fully ramped up, the plant’s commercial helium output is expected to reach 2.1bcf/y (one-third of the current global supply).

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