By Reshma Kapadia

Helium is in short supply because of the Iran war -- and the shortage could persist even if the U.S. and Iran reach a more stable truce and shipping through the Strait of Hormuz resumes.

Damage to critical natural gas infrastructure in Qatar -- helium is a byproduct of natural-gas production -- sets up an even longer s cramble for the gas that is critical for many tech products, from semiconductor chips to MRI machines in hospitals.

Stocks were sinking Monday on President Donald Trump's blockade of the Strait of Hormuz after peace talks in Pakistan failed over the weekend.

In a note to clients, Pavilion Global strategists wrote that the damage to QatarEnergy LNG, formerly Qatargas, the liquefied natural gas company, has taken about a third of global helium supply out of the market. Current estimates are that it could take five years to repair the gas facility, they said.

The U.S. is the biggest producer of helium, but is already running at maximum capacity. Russia as the second biggest producer, Ukraine has damaged one of Russia's helium production plants and economic sanctions on Russia prevent European and U.S. companies from buying its helium anyway, the strategists noted.

Pavilion Global sees no way out of the shortage without Russian supply. But for investors, Russian gas companies are probably off-limits. The way to benefit from more Russian helium eventually getting on the market is through companies that make or sell storage tanks or that distribute the helium.

Companies include U.S. companies Linde, which has helium storage and distribution, and Air Products and Chart Industries that are tied to cryogenic containers or shipping. Japan's Air Water, which has cryogenic containers, could also benefit, according to the strategists.

The other investment options: Asian distributors who may buy Russian helium and could purchase it for less than U.S. helium -- and sell it to Asian buyers at a higher price. That includes distributors like Japanese helium supplier Iwatani , Japanese distributor Nippon Sanso, and South Korea's Hyosung.

The Pavilion Global analysts were a bit more wary about plans to increase helium production in the U.S., Canada, and Africa in coming years, describing those as more speculative at this point.

Write to Reshma Kapadia at reshma.kapadia@barrons.com

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April 13, 2026 12:35 ET (16:35 GMT)

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