“The potential investment to Decarbonize Linde exceeds $3 billion while considering our existing hydrogen production asset base.”

In context

“ower cost energy and the ability to economically decarbonize with the passage of the US Inflation Reduction Act or IRA, which you can find on the next slide 4. The IRA has accelerated significant growth prospects from our unrivaled hydrogen and atmospheric gas network, as well as potential new markets being developed across the US. With this effect, we've grouped these activities into three different categories of Decarbonized Linde, Decarbonized Customers and New Markets. Let me start with Decarbonized Linde, which represents the ability to sequester existing CO2 emissions generated from our own hydrogen production. This provides simultaneous benefits: the production and supply of blue hydrogen into our network, and the reduction of Scope 1 emissions for our stated sustainability goals. The potential investment to Decarbonize Linde exceeds $3 billion while considering our existing hydrogen production asset base. The second category of Decarbonize Customers, represents two separate opportunities. The first, to enable our customers to decarbonize their processes through fuel switching. That is by using low carbon intensity hydrogen, as fuel in their refineries frackers or furnaces. The second opportunity is our ability to capture and sequester, existing carbon emissions from customers, currently connected to our pipeline network especially in the Gulf Coast. This will be a revenue model similar to our current on-site business and customers would benefit by decarbonizing their own operations in addition, to monetizing tax credits over the contract period. Together our potential investment in this category could easily exceed $10 billion, which I view to be on an accelerated path given the incrementa”