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Helium Exploration, a Market Not to be Taken Lightly
- Publisher: European Association of Geoscientists & Engineers
- Source: Conference Proceedings, 81st EAGE Conference and Exhibition 2019, Jun 2019, Volume 2019, p.1 - 6
Abstract
Summary
Helium is a noble gas which cannot be so far commercially synthesizable. It has been historically produced from the subsurface as a by-product of several natural gas fields. Its specific physical and chemical properties cannot be substituted and became essential in a growing number of industries. As a consequence, the helium market encountered regular production shortages over the last decade and its value has more than doubled in the meantime. Even if market seems to have recently stabilized, most of experts agree to say that helium supply will remain tight in the near future. Indeed, the number of production sites still remain limited worldwide and the production versus consumption equilibrium could therefore easily be affected by planned or unplanned outages or new projects delays.
In that context, the 45-8 Energy start-up was created in 2017 by five associates having ambition to apply their oil & gas exploration experience to explore, produce and market Helium in Europe. Ongoing work is so far promising and a first production pilot could be put on stream by the end of 2020.
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