GULF REGION — Iranian strikes on two liquefied natural gas facilities owned by QatarEnergy this month halted Qatar's helium production and disrupted global energy markets. The conflict involving Iran is threatening the world's supply of both helium and aluminum.

Qatar accounts for roughly one-third of the world's helium supply. A spokesperson for QatarEnergy said the strikes wiped out 17% of Qatar's LNG export capacity and that repairs to the attacked facilities could take three to five years. The United States is the world's largest helium producer, generating 81 million cubic meters last year, while Qatar, Algeria and Russia are the other major producers. Russian helium supplies are banned under U.S. and European Union sanctions.

"We were so focused on gas supply that we didn't see the helium shortage," said Vidya Mani, associate professor of business administration at the University of Virginia's Darden School of Business. "Imagine not having chips to power laptops, iPhones and small appliances? Everything with circuitry runs on one, and all of those will be hurt if we don't get helium soon."

Helium is highly effective at transferring heat, making it used for rapid cooling. Semiconductor chipmakers use the gas to cool silicon wafers during production. Beyond semiconductors, the medical industry uses helium to cool superconducting magnets in MRI machines, and the space industry uses it to purge rocket fuel tanks.

Cliff Cain, an executive at Pulsar Helium, said: "The effects are already being felt. They are already receiving 'force majeure' and allocations letters." He said: "Semiconductor manufacturers have already indicated that they will not be able to meet their 2030 manufacturing goals."

A global helium shortage could also interfere with building AI data centers and curtail companies' investment plans, according to Oxford Economics.

The conflict is also squeezing aluminum markets. Roughly 9% of the world's aluminum supply is produced by Gulf countries, according to Stephen Hare and Sebastian Tillet of Oxford Economics. "Disruptions in the region are reducing available supply, while rising energy costs are increasing production costs across the global cost curve. Together, this is tightening market conditions and pushing aluminum prices higher," Hare and Tillet said. Aluminum prices recently touched their highest level in four years. A shortage of the metal would have a direct impact on consumer goods packaging costs in the near term, according to Mani, who added that the automobile and electronics sectors also use aluminum extensively and could face shortages.