OIL - AVANTI HELIUM SIGNS HELIUM MARKETING AGREEMENT WITH THE EDELGAS GROUP | Benzinga
CALGARY, AB, May 15, 2024 /CNW/ - Avanti Helium Corp. (TSXV:AVN) (OTC:ARGYF) ("Avanti" or the "Company") is pleased to announce that it has signed an exclusive helium marketing agreement with The Edelgas Group ("Edelgas").
The agreement between Edelgas and Avanti paves the way for the marketing and sale of Avanti's helium gas and/or liquid products. With an extensive network and decades of experience in the industrial, specialty, and rare gases sector, Edelgas is well-positioned to effectively promote and distribute Avanti's helium offerings.
Through this agreement, Avanti gains access to Edelgas' established network of end users, encompassing both short-term and long-term contracts. Leveraging their expertise, Edelgas excels in facilitating agreements tailored to meet the diverse needs of multiple end-user buyers. Their track record of successfully managing short and long-term contracts underscores their reliability and ability to deliver value to both Avanti and its customers. As the Company is targeting production in 2024, this collaboration marks a strategic alignment, poised to unlock new opportunities, and help drive growth for Avanti.
"Avanti is pleased to formalize our partnership with Edelgas, following several months of successful collaboration," stated Chris Bakker, CEO of Avanti. "The global helium market is very dynamic at the moment. While Helium Shortage 4.0 seems to be easing, concerns persist regarding supply security due to ongoing military disruptions in Ukraine and the Middle East, as well as potential EU trade sanctions on Russian helium. With Avanti's exceptional assets and competitive operating costs of approximately US$200/Mcf for liquefied helium and US$130/Mcf for crude gaseous helium, we anticipate strong profitability across a wide spectrum of offtake prices."
Cliff Cain, CEO of Edelgas, commented, "We are excited to collaborate with Avanti to develop this project, especially given the persistent helium shortages over the past ...