We have seen Algeria hit new record volumes of helium exports every month since Apr'24 first increasing to 55mmcf from an LTM to Mar'24 average 49mmcf/m and then to 57mmcf in May'24 and 59mmcf Jun'24. We believe that this is because of a new 150mmcf/y helium plant that has been brought online by Air Products, revealed in its testimony in the Messer/Air Products court hearing on 11th September. There is little data around Algerian helium exports so we rely on data from importers. In 2018, Sonatrach signed a deal with Air Products to supply helium recovered from the GL1Z and GL3Z LNG facilities to the Helios plant, adding ~300mmcf/y of helium capacity but there have been no announcements since and the new plant may be part of this expansion. The timing aligns with the new EU sanctions on Russian helium trade, positioning Algeria as a key supplier to Europe.
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