BOC enters $40 million supply agreement

BOC and KRIO, a division of the Polish Oil and Gas Company, have entered into a new helium supply agreement worth up to $40 million.

BOC and KRIO, a division of the Polish Oil and Gas Company, have entered into a new, multi-year helium supply agreement. The value of the agreement over the contract life could approach $40 million.

Under the agreement, BOC will purchase all of KRIO’s helium production except for the helium KRIO will continue to sell domestically. BOC will export all of the helium purchased under the new agreement for resale in European markets.

KRIO produces liquid helium as a by-product of natural gas processing at a facility located in Odolanow, Poland. The facility also produces high purity methane, liquefied natural gas, natural gas liquids and nitrogen for Polish markets.

The Odolanow Plant is one of only twelve liquid helium plants in the world and one of only two located in Europe. BOC has been KRIO’s only customer for bulk liquid helium since the original agreement was signed in 1972.

‘KRIO is a key component of BOC’s helium supply portfolio,’ said Bob Lein, BOC’s director, helium sourcing and supply, ‘and we are very pleased that we were able to extend our relationship with them despite the strong competition that exists for current supply.’

Jan Rudnicki, KRIO’s managing director, added: ‘KRIO has enjoyed an excellent long term partnership with BOC and we look forward to continuing it in the future.’