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Air Liquide (AI.PA) is the world's second-largest industrial gas company (~€27 B revenue, FY2024), supplying oxygen, nitrogen, argon, hydrogen, helium, and specialty electronic gases to steel, chemicals, refining, semiconductor, and healthcare customers in 73 countries.
Source: SEC Financial Statement Data Sets, annual period, tagged by the issuer. Segment names are the company’s own labels and are not comparable with another filer’s. Shares are of consolidated revenue and need not sum to 100%: overlapping cuts are reported, and segment×geography cross-tabs are dropped rather than counted twice.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 1 supplier. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Long-term sales and purchase agreement signed Jan 2026 for around 300 million cubic feet/yr (~8.5 Mm3/yr) of Qatari helium; the QNA release gives no contract duration and no Helium 2 share. Air Liquide's 50% Helium 2 offtake (Linde 30%, Iwatani 20%) is per AKAP Energy trade press, not QatarEnergy.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
Another tracked dossier names this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 1004 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
High-purity industrial gases under a renewed 15-year partnership at Malta, New York, plus a new Singapore plant supplying high-purity nitrogen from 2026; over EUR 50m across both. Announced 2024-02-19 by Air Liquide. Re-checked 2026-09-27 (wake-minerals-buyers, step 0.5): press release still live verbatim, no retraction or superseding announcement found. An existing Dresden cooperation is referenced with no terms disclosed. This is the named counterparty behind the helium/process-gas exposure.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
As a buyer, policy pressure across its consumed materials is rising.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
🇷🇺 RU accounts for 100% of severity-weighted pressure.