Demand is diversified across mining houses, logistics fleets, manufacturers, healthcare, semiconductor/electronics buyers and the global gas majors. No single customer exceeds a 20% revenue-concentration cap, and the demand pool per anchor segment exceeds the ask by multiples.
|
Segment |
Need |
Plan share FY2031 |
|---|---|---|
|
Mining houses |
Haulage fuel, off-grid power, energy security |
30–35% |
|
Logistics fleets |
Fuel-cost reduction on trunk routes |
15–20% |
|
Manufacturers |
Process heat, kilns, boilers |
10–15% |
|
Healthcare |
MRI helium, medical gases |
3–5% |
|
Semiconductor / electronics |
Ultra-high-purity helium |
10–15% |
|
Global gas majors |
Portfolio helium supply |
25–30% |
Offtake sequencing — the bankability engine
- Pre-FID (FY2027): heads of terms with 3–5 mining/industrial anchors covering ≥60% of Phase 2 LNG nameplate; helium MoU with at least one global major.
- At FID (FY2028): binding take-or-pay for ≥50% of LNG capacity and a helium floor-contract for ≥60% of design output, a senior-debt condition precedent.
- Ramp (FY2029–31): layer transport-fuel and spot helium volumes over the contracted base, targeting ≤70% contracted at maturity to retain price upside.
NoteCounterparty credit discipline
Anchor offtakers must carry investment-grade or equivalent parent guarantees, with single-customer concentration capped at 20% of revenue. Diesel-indexed contracts include floor prices protecting debt service at low-oil scenarios; helium contracts specify take-or-pay percentages, ISO-container demurrage and force-majeure carve-outs reviewed by lender counsel.