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S.Korea Helium Prices Hit Record Levels for 3 Consecutive Months

South Korean helium import pricing has been continually rising through H1'23. As predicted by AKAP Energy last month, South Korea has crossed the US$500/mcf mark following the trend of its other Asian counterparts. Jun'23 pricing stands at US$505/mcf and the YTD average at US$475/mcf (+32% y/y). YTD to Jun'23, volumes have increased by only 9% y/y. This trend is likely due to the stressed supply market. In early 2022, South Korea lost one of its suppliers (Australia) that used to provide ~10% of the country's demand. South Korea has relied on Qatar and the US to fulfil its demand but both these suppliers are riding on the supply shortage and selling at higher prices while consumers such as South Korea bear the brunt.

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