Cover Story Breakbulk & Project Cargo
Balloon effect
Massive drop in Middle East helium production drives alternative projects
By Felicity Landon
The war-forced shutdown of Qatar’ s Ras Laffan LNG refinery in March triggered the most serious disruption to the global helium market in more than a decade, prompting shippers to pursue industrial projects in other regions. The situation has exposed significant vulnerabilities in this critical supply chain, pushed prices up sharply, and prompted a renewed focus on potential new production facilities in more secure areas. Components for these industrial facilities are a driver of project cargoes.
“ The helium business is an oligopoly consisting of six companies, and they control the flow of information.”
The elimination of one-third of global helium supplies has also highlighted how vital the gas is, including for semiconductor and advanced electronics production, MRI machines and other medical diagnostic equipment, aerospace and defense, and precision manufacturing.
The world’ s major helium suppliers are tightlipped on how they are dealing with the shortage, reluctant to share information that could be damaging to their reputation or share price, Phil Kornbluth, president of global industry consultant Kornbluth Helium Consulting, told the Journal of Commerce.
“ The helium business
Phil Kornbluth President, Kornbluth Helium Consulting is an oligopoly consisting of six companies, and they tend to control the flow of
Pulsar Helium
6 Journal of Commerce | June 2026 www. joc. com