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Air Products says it is facing continued helium headwinds as prices decline while it taps higher-cost stored supply to offset lost volumes from Qatar.
On its most recent earnings call, the industrial gas major said it is now withdrawing helium from its storage cavern in Beaumont, Texas, as weak market conditions persist.
CEO Eduardo Menezes said the company has not received product from Qatar since December and that the Middle East conflict has not materially changed its position.
“[T]he plant that supplies in Qatar [has been] down since December, so we [have] not [been] taking product since [then],” he said on the company’s second-quarter (Q2) investor call.
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