When Qatar halted LNG production in early March following drone attacks on its energy infrastructure, it sent an invisible but consequential shockwave through the global economy: helium output stopped too. That pause, easily overlooked amid the wider drama of the conflict, exposed just how fragile the world’s supply of one of its most critical industrial gases truly is.
The warning comes from a Qatar Financial Centre (QFC) report, which calls for the building of large, co-ordinated helium reserves at national or industry level to provide a more reliable buffer against supply shocks and keep international markets stable.
"Unlike oil, helium has no co-ordinated global stockpiles. Private reserves exist, but they are relatively small and offer only short-term relief for certain commercial needs. Building a large and co-ordinated reserves at the national or industry level would provide a more reliable buffer against supply shocks and help keep markets stable,” said Leago Ntutu Joseph Kgasago, Economics and Special Projects, QFC, who authored the report.
The US and Qatar are the world’s largest and second-largest helium producers and exporters, respectively, with estimated outputs of around 81mn and 64mn cubic metres in 2025. Other notable producers include Russia and Algeria. As a major supplier, Qatar’s exports account for roughly a fifth to a quarter of the world’s helium supply.
When Qatar halted LNG (liquefied natural gas) production in early March in response to drone attacks, associated helium output also paused, quickly tightening market conditions, the report said, adding an interruption of this scale would likely ripple through global value chains, tightening the availability of critical inputs and complicating production planning across key markets.
"If disruptions to helium production and shipments were to persist through the end of the summer, global semiconductor manufacturing could face meaningful constraints that extend beyond chipmakers”.
"Under this scenario, leading semiconductor producers — Taiwan, South Korea, and China — would be more exposed than most. China and South Korea import more than half of their helium requirements from Qatar, respectively, while Taiwan sources about one-third of its LNG from the Gulf state,” it said.
Stressing that improving supply chain transparency and coordination is crucial; it said ensuring greater visibility across the helium supply chain, similar to systems used in energy, semiconductors, and healthcare, would allow a more proactive rather than reactive response to emerging disruptions.
Large industrial users, particularly in semiconductors and healthcare, can ease demand pressure through closed-loop helium recycling. These systems are currently under-utilised largely due to upfront costs. But for large facilities, they can prove practical, cost-effective over time, and worth the initial investment for long-term supply security.
Helium is critical to various industries, with the largest demand coming from the electronics (25%), medical (23%), and industrial (18%) sectors.
Its chemical stability, low density, and extremely low boiling point, makes it uniquely suited for sensitive applications, such as semiconductor and fibre optic manufacturing, cryogenic fuel storage for satellites and space probes, cooling superconducting magnets in MRI machines, and precision leak detection in submarines, missile systems, and high-pressure fuel lines.
Stressing that with deliberate action to diversify supply, invest in resilience, and modernise how critical materials are managed, exposure to disruptions can be reduced; it said "over time, these steps can strengthen the stability of the systems and industries that underpin the modern economy — while supporting more predictable outcomes for manufacturers, hospitals, and end users alike.”
Under this scenario, leading semiconductor producers – Taiwan, South Korea, and China – would be more exposed than most.
China and South Korea import more than half of their helium requirements from Qatar, respectively, while Taiwan sources about one-third of its LNG from the Gulf state,” it said.
Stressing that improving supply chain transparency and co-ordination is crucial; it said ensuring greater visibility across the helium supply chain, similar to systems used in energy, semiconductors, and healthcare, would allow a more proactive rather than reactive response to emerging disruptions.
Large industrial users, particularly in semiconductors and healthcare, can ease demand pressure through closed-loop helium recycling.
These systems are currently under-utilised largely due to upfront costs.
However, for large facilities, they can prove practical, cost-effective over time, and worth the initial investment for long-term supply security.
Helium is critical to various industries, with the largest demand coming from the electronics (25%), medical (23%), and industrial (18%) sectors.
Its chemical stability, low density, and extremely low boiling point, makes it uniquely suited for sensitive applications, such as semiconductor and fibre optic manufacturing, cryogenic fuel storage for satellites and space probes, cooling superconducting magnets in MRI (magnetic resonance imaging) machines, and precision leak detection in submarines, missile systems, and high-pressure fuel lines.
Stressing that with deliberate action to diversify supply, invest in resilience, and modernise how critical materials are managed, exposure to disruptions can be reduced; it said "over time, these steps can strengthen the stability of the systems and industries that underpin the modern economy – while supporting more predictable outcomes for manufacturers, hospitals, and end users alike”.