The only helium plant in the southern hemisphere located in Darwin has shut down, after its supply was exhausted. It means the gas will now need to be imported at a much higher cost.
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00:00 Most people would hear the word helium and think party balloons, but the rare gas is
00:06 also critical for medical equipment, smartphones, solar panels and even space exploration.
00:14 And now Australia's only manufacturer, situated in Darwin, has closed.
00:20 For more than a decade, BOC had been producing helium as a by-product from the gas that the
00:25 Darwin LNG plant was extracting from the Bayou Undine field, but that supply has now been
00:31 exhausted.
00:33 The Santos-owned Darwin LNG plant has also temporarily cut its operations, hoping to
00:39 pivot to the Barossa gas field, despite facing major delays and court battles.
00:45 Experts say there's little chance of a shortage, but the gas will now need to be imported from
00:50 the US at a much higher cost.
00:53 The price of helium has gotten quite high in recent years.
00:57 We've had a series of shortages since the Darwin project was first conceived.
01:03 BOC produced about 3% of the world's helium supply, and now another territory business
01:10 hopes to take over.
01:12 If we're successful, we'll be actually not just supplying the Australian market, but
01:16 also exporting helium.
01:18 Natural Petroleum is confident its existing conventional gas wells in central Australia
01:24 will be ripe with helium.
01:26 The size of the prospects could be a game changer for the helium market.
01:31 BOC was Australia's main supplier of helium, and in a statement says it's actively looking
01:37 for new gas supplies in the Northern Territory, and will continue to supply its customers
01:42 with imported helium.
01:44 [BLANK_AUDIO]