Qatar’s helium exports to Japan hit one-year low on Iran war

Qatar’s helium exports to Japan reportedly fell to their lowest in over a year in March due to the Iran war.

Shipments dropped 81 percent last month from a year earlier to 8,800kg, Bloomberg reported, citing data from Japan’s finance ministry. 

The closure of the Strait of Hormuz and attacks on Qatar’s energy facilities have upended the country’s exports of helium, which had accounted for one-third of global supply as a byproduct of natural gas production. Japan relied on Qatar for nearly 40 percent of its imports last year, with the US supplying most of the rest.

Helium has several critical uses, such as in MRI machines and the manufacturing of high-end artificial intelligence chips.

Anish Kapadia, founder of consultancy AKAP Energy, said in March that the closure of Qatar’s Ras Laffan facility could wipe out more than a tenth of global helium supply this year.

The complex – the world’s largest export hub for liquefied natural gas – has been offline since Iranian missile strikes on March 19, halting helium production.

About 30 percent of Qatar’s helium volumes could be lost in 2026, equivalent to 11 percent of global supply, Kapadia said.

State-owned QatarEnergy said after the attack that it might have to declare force majeure on contracts for up to five years.

Further reading:

• In figures: the latest GCC economic data
• Qatar economy well-equipped but expat reductions likely
• US deal offers Qatar a golden pass for overseas LNG