Russia's Amur facility commenced helium exports in Q4'23. However, due to Western sanctions, its market reach is limited to countries willing to engage in trade with Russia. Since Oct'23, China has emerged as Russia's largest buyer, with Russian helium volumes also making their way to South Korea and India. Our shipment-level tracking indicates that India received ~1-2mmcf of Russian helium in Nov and Dec'23. While there were no imports in the first three weeks of Jan'24, the imports resumed towards the end of Jan and early Feb'24, totalling 3mmcf. Should India continue to import around 2mmcf/month for the rest of the year, Russian imports could account for 20% of India's helium market. Currently, these volumes are being imported at ~US$700/mcf, which is higher than the average price of ~US$500/mcf from other countries exporting helium to India.
India Sees Growing Russian Helium Imports
Updated: Mar 4
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