We study an ideal MHD plasma with the non-vanishing invariants energy,
cross-helicity and magnetic helicity, confined in a cylinder with inf
initely conducting walls and an externally applied magnetic field B-0.
The magnetic and velocity fields are expanded in base vector fields,
satisfying del x B-lambda = B lambda. Boundary conditions are imposed
to make the curl a self-adjoint operator. The three invariants depend
on the time-dependent coefficients of the base vector fields, and are
used to construct the partition function to gather statistical informa
tion about the equilibrium thermodynamic state to which the plasma rel
axes after a turbulent transition. For zero external magnetic field bu
t large magnetic helicity, the energy resides preferentially in magnet
ic field fluctuations. A sizeable fraction of the kinetic energy initi
ally present is transformed into magnetic energy. The energy condenses
via an inverse cascade predominantly to the lowest energy eigenstate,
in agreement with results obtained by Taylor. However, since we consi
der the whole spectrum of eigenstates, the energy does not exclusively
occupy the lowest eigenstate. If the eigenvalues are densely spaced (
as in a thin torus), the higher eigenmodes also contain appreciable am
ounts of energy, resulting in a finite pressure of the plasma. For con
stant and finite external magnetic field, the average induced magnetic
field exactly cancels the external held. This indicates that, on a st
atistical average, the plasma is diamagnetic or superconducting. Super
imposed on the average statistical state are fluctuations that may bec
ome large if the magnetic helicity is large.