After almost two years of subdued helium production, Russia's Gazprom has finally ramped up production from its Amur facility. Since the majority of its Amur helium production is slated to be exported, Gazprom is selling it at the global average import-export price, which ranges from US$400-500/mcf. This is driving down the prices of helium produced at Gazprom's other facilities, such as Orenburg. In 2023, the Orenburg helium plant sold helium for as high as US$1,760/mcf, which was indicative of retail pricing in the region. These prices were also high given the helium shortage. However, as the Amur plant began production and exports from Oct'23, we have seen that Orenburg prices have started to fall. Comparing the most recent prices in Apr '24 to pre-Amur prices in Sep '23, helium prices have fallen by more than 50% to US$834/mcf. This aligns with Indian import pricing from Russia, which ranges from US$700-800/mcf. This shows us that Gazprom is adjusting its helium prices to match its average export pricing.
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