en.Wedoany.com Reported - ASP Isotopes Inc. (ASPI) announced that Tetra4 Proprietary Limited, a subsidiary of Renergen Limited and developer of the Virginia Gas Project in South Africa, has signed its first take-or-pay contract to supply liquid helium to an Asian industrial gas company.

The five-year contract is priced at over $600 per thousand cubic feet (MCF) of helium-bearing gas, accounting for approximately 15% of the project's Phase I nameplate capacity (70 MCF per day). In addition to helium, Phase I is expected to produce approximately 2,500 gigajoules of liquefied natural gas (LNG) per day, with commercial production targeted for the third quarter of 2026.

ASP Isotopes stated that it is in discussions with other potential customers for LNG and helium offtake from Phase I and Phase II projects, with contract signing for Phase I production expected to be completed in the third quarter of 2026. The company said the Phase I drilling program is on track to achieve the required cumulative rated flow rate by March 2026, following the resumption of collaboration with U.S.-based Kinley Exploration to support well design and drilling execution. The remaining activities required to reach full production are primarily in the engineering domain.

Phase II has a 44-month construction period following the completion of Phase I, targeting an expansion of production to approximately 34,000 gigajoules of LNG per day and 900 MCF of liquid helium per day. Phase II construction is expected to commence in the second half of 2026. Tetra4 has received conditional approval for up to $750 million in senior debt financing, including up to $500 million from the U.S. International Development Finance Corporation and up to $250 million from Standard Bank.

The company noted that global helium supply has been impacted by the closure of the Strait of Hormuz, reports of damage to facilities at Ras Laffan in Qatar, and helium export controls imposed by Russia in April 2026. According to data from the U.S. Geological Survey, Qatar and Russia together account for approximately half of the global helium supply.

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