Stable Gas Distribution Business ModelA core focus on piped gas and LNG distribution to households, businesses and industry is a durable, essential-service business. Utility-like demand and long service relationships support predictable baseline volumes and opportunities for multi-year contracts and regulated or quasi-regulated revenues over the medium term.
Pipeline Network Supports Infrastructure RevenueOwnership/operation of pipeline infrastructure creates high barriers to entry and the potential for recurring infrastructure and maintenance revenues. Once utilisation recovers, fixed-asset scale can translate into durable cash flows and customer lock-in from technical and regulatory switching costs.
Reduction In Total Debt In Latest YearLowering absolute debt reduces interest burden and improves financial flexibility, which is material for a loss-making utility business. Improved debt metrics help preserve liquidity runway, support negotiations with lenders, and provide optionality for restructuring or capital investments without immediate refinancing stress.