“And I continue to be confident about winning new backlog projects in the US, Europe, Middle East and Asia Pacific worth around $8 billion to $10 billion in the next three years.”

In context

“le maintaining world-class safety results. I would like to thank our employees around the world for delivering these results. Supporting the environment is more than just lip service at Linde. We’ve been working on it for decades. Last year we reduced absolute greenhouse gas emissions while increasing our active renewable energy purchases by 1 terrawatt hour. It’s a good start towards our long-term goals and I am pleased to see acknowledgement of this progress in or external recognition. We also positioned the business with high-quality future growth. The OCI project with CapEx of approximately $2 billion will produce 300 million cubic feet per day of blue hydrogen which will be sold under standard industrial gas supply contracts while partnering with Exxon Mobile for CO2 sequestration. And I continue to be confident about winning new backlog projects in the US, Europe, Middle East and Asia Pacific worth around $8 billion to $10 billion in the next three years. Recently there have been some updates and indeed some confusion regarding the IRA regulations. We’ve included a slide in the backup to help explain our views. I am happy to respond to any questions on it, but let me reiterate the key message. We expect future US onsite clean hydrogen projects to primarily leverage 45 Q credits since we have not yet identified any large onsite green hydrogen projects that meets our investment criteria. I expect to see small to mid-size green hydrogen projects, primarily to serve merchant type demand, that these will likely not meet our backlog definition. Aside from clean energy projects we continue to position the base business routes as evidenced by our traditional onsite merchant small onsite investments. Indeed why you’ll see we have one of the new r”