On January 30, Iwatani signed its third contract to import helium from Praxair. The contract term will be 10 years long.

Helium has been in tight situation since last year due to the allocation implemented by BLM and prolonged regular maintenance at Exxon Mobile refinery. For a part of suppliers, it has been difficult to procure helium. Therefore, the renewal of contract between Praxair and Iwatani has gathered attention.

Akiji Makino, President of Iwatani, stated “We are glad to have a long-term contract renewal for another 10 years to import from Praxair. I believe that it was thanks largely to our past achievement and trust relationship we built. In the US, the situation surrounding helium should also be tough because shale gas has been booming. I expect that helium source will be becoming tighter on mid-long term basis for all players in the future. In the next year, when we will begin import helium from Qatar from which we won a direct contract for procurement, we will acquire a capacity to be able to supply for almost all the demand in Japan, which is equivalent to 5% share of global market. Depending on situation of supply and demand, as well as on areas, Iwatani could support Praxair in mutually beneficial relationship. We have been constructing filling stations for helium in Jiaxing, China, and Malaysia, to supply the gas to Asian region.