Helium is a colorless and odorless noble inert gas, widely used in high-tech fields such as fourth-generation nuclear reactors, semiconductor manufacturing, quantum computing, modern precision analytical instruments, and medical applications, due to its low density, low boiling point, and inert properties.

As an emerging strategic resource, the market size for helium has been relatively limited for a long time, with almost no dedicated exploration conducted. Currently, the majority of helium resources utilized in the global industry are derived from the separation and extraction of helium-containing natural gas reservoirs. In recent years, with the rapid development of the defense industry and high-tech fields, the global demand for helium resources is expected to grow at an annual rate of approximately 5%. In 2021, the global demand for helium resources reached 194 million cubic meters, with a general supply shortage and significant price fluctuations. Recently, countries such as Qatar and Russia have accelerated the construction of large-scale helium projects, sparking a global "helium rush." Many companies have increased their investment in helium exploration, extraction technology, and storage equipment innovation, presenting a series of new developments.

Global Proven Helium Resources Distribution

Concentrated in the United States, Qatar, Algeria, and Russia, the global proven helium resources as of the end of 2021 total approximately 484 billion cubic meters, with the United States, Qatar, Algeria, and Russia holding 171 billion, 101 billion, 82 billion, and 68 billion cubic meters respectively. These four countries account for 87.19% of the world's total resources.

The total proven reserves of helium globally are about 120.86 billion cubic meters, with the United States holding about 85.86 billion cubic meters, representing 71.04% of the global total reserves. Algeria and Russia have helium reserves of 18 billion and 17 billion cubic meters, respectively, accounting for 28.95% of the global total reserves. Qatar's helium resources mainly come from the purification and recovery of liquefied natural gas (LNG) plant tail gas (BOG), with a huge resource volume but no high-grade helium reserves (USGS, 2022). The total reserves of helium in the United States, Algeria, and Russia account for 99.99% of the global proven reserves that have been announced.

Relatively Stable Global Helium Production

Restricted by the global distribution pattern of helium resources, the distribution of global helium production is relatively concentrated. North America is the absolute main supply area, followed by Qatar, with very low helium production in the Asia-Pacific region. The main helium-producing countries are the United States, Qatar, Algeria, Russia, Poland, Australia, etc.

From the end of the 20th century to the beginning of the 21st century, the global annual production of helium generally increased steadily, with an annual production of 850 million to 1,750 million cubic meters. From 2012 to 2021, the global annual production of helium has basically tended to be stable, with the total annual production generally maintaining around 1.6 billion cubic meters (USGS, 2022).

Diversification of Global Helium Exploration and Development Entities

In the past decade, the international helium market has repeatedly experienced supply shortages, leading to increased attention to helium. A large number of helium companies have emerged internationally, and the exploration and development entities have become increasingly diversified, creating a "helium rush." Some companies with oil and gas exploration or mining backgrounds have begun to turn to helium exploration, actively deploying the development of the helium industry, and tapping the potential of helium resources.

According to statistics, from 2021 to 2025, global factories such as the Russian Amour natural gas processing plant, the third phase of Ras Laffan in Qatar, Helium One in Tanzania, and the Algerian helium extraction plant will successively come on stream (Table 1). At that time, it is expected that the helium production capacity will increase by 1.1 billion cubic meters, and the global helium supply will reach 2.6 billion cubic meters.