NEW YORK, Dec 10 - Gas turbine maker GE Vernova ( GEV ) is working with the U.S. government to increase its stockpiles of the rare earth yttrium, CEO Scott Strazik said on Tuesday, as China's export controls of the vital element create shortages across energy, aerospace and semiconductors. 

GE Vernova ( GEV ) - one of only three major makers of gas turbines globally - has yttrium inventories to last the rest of 2025 and into next year, Strazik said, although he did not disclose how long into next year supplies would last. 

The company is also investing in alternatives to replace certain rare earths used in production if it became necessary, although there were cost or performance trade-offs in some cases, he added.

"We are very focused on it every day," Strazik said in response to a question about yttrium shortages at an investor day on Tuesday.

"We're in good shape for the foreseeable future based on the fact that we have everything we need for this year into next year. But we will continue to be opportunistic whenever there's an opportunity to add to the inventory," he added.

China, the main source of the element used in specialty alloys found in engines as well as coatings to shield against high temperatures like those found in gas turbines, restricted exports along with six other rare earths in April in retaliation for U.S. tariffs.

While Washington and Beijing have since agreed to a new regime to speed up rare earth exports, yttrium users from aerospace to semiconductors complain about severe shortages, and prices outside China have risen 4,400% between January and November this year. 

(Reporting by Laila Kearney in New York and Lewis Jackson in Beijing; Editing by Muralikumar Anantharaman)