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17 min ago 2 min read
Minnesota Governor Tim Walz has signed new legislation focused on the permitting of gas extraction projects, in a move set to benefit the state’s helium market.
The legislation applies only to gas well projects primarily focused on helium exploration in Cook, Lake, and St. Louis counties. It bans oil wells and hydraulic fracturing in gas wells, while still allowing companies to sell carbon dioxide (CO2) captured during normal helium production.
Helium exploration firm Pulsar Helium said the legislation would advance its Topaz project, which is targeting final investment decision (FID) in 2026.
In March, Pulsar signed a letter of intent with US cryogenic equipment company Chart Industries for the supply of an integrated carbon dioxide (CO2) capture and helium liquefaction facility.
The project will focus on non-hydrocarbon-based helium production and has previously produced helium concentrations of around 8.1% and 5.6%, respectively.
Cliff Cain, President of Pulsar, described the legislation development as a landmark day for helium development in Minnesota.
“The governor’s signature creates a defined, helium-specific pathway toward production at Topaz, at exactly the moment when the world needs new, secure helium supply the most.”
The new law begins the next phase of state review before commercial gas production can move forward. State agencies still need to finalise rules and permits, and the company plans to provide technical information to help guide the process and ensure safety.
Minnesota passed legislation in 2024 allowing the state to issue leases for exploration and production of non-hydrocarbon gases, including helium.
Before the new regulations, leases could only be issued for privately held mineral rights.
