"A gas of strategic importance, helium is used in many applications including space technology, cryogenics and atomic reactors. Global supply of helium is fast depleting and scientists worldwide are in panic mode as the imbalance between supply and demand is growing at an alarming rate. The entire requirement of helium (around 1.8 lakh cubic metres a year) in India is currently met through imports at a cost of nearly $2 per cubic metre. The supply-demand imbalance for helium in global market could grow into a big crisis in future and in such a situation, India will be in a disadvantageous position. This pilot plant at Kuthalam could play a significant role in ensuring the energy security of the nation," said RS Sharma, chairman and managing director, ONGC.
The ONGC has set up this pilot plant with an initial investment of Rs 6.5 crore. Once the pilot plant proves successful, ONGC would invest more for commercial production of helium.