CLAIM #36009 · Linde plc Ordinary Shares (LIN) · 2023Q2 earnings call · Jul 27, 2023

“I'll also reiterate that I expect over the next few years, decisions around $9 billion to $10 billion, which are more tangible in terms of projects that are currently getting developed.”

Sanjiv Lamba · CEO

How to check this claim

Look at: Cumulative value of final investment decisions (FID) announced on IRA-related/decarbonization projects, as disclosed by management

It came true if: Cumulative disclosed FID/project decisions >= $9 billion (target range $9-10 billion) within the stated multi-year window

Where: Management commentary on quarterly earnings calls (project backlog / FID disclosures)

Knowable after: 2026-07-27

In context

“out and told you in the U.S., we think the IRA is driving a potential project pipeline for us, where we make decisions on about $30 billion over the next 10 years. And I certainly see that backlog reflect as those decisions get made as we move forward. I'm also happy to say that we are actually seeing most of those projects progressing extremely well in the U.S., in Canada and even outside in the Middle East and Europe as well. These project development cycles kind of tend to take a little bit longer. I explained that in the last earnings call, there's a lead time anywhere between 12 to 24 months between our prefeasibility or feasibility to a feed then to get down to the final investment decision. So the timing tends to be a little bit lumpy, but you'll see that happen as we move forward. I'll also reiterate that I expect over the next few years, decisions around $9 billion to $10 billion, which are more tangible in terms of projects that are currently getting developed. All of that then translates once those decisions happen into the backlog. Duffy, I'll just go on and add a little bit on flavor on the traditional markets as well. Our traditional end markets are seeing a fair amount of strong proposal activity. And this includes all the decarbonization that we just referred to. The opportunity pipeline is spread across many end markets here, starting with electronics, metals, energy, chemicals and includes a few decaptivation opportunities for us as well. As you know, our current sale of gas backlog is about $4.4 billion. That's after we adjusted for the $1.4 billion for the Singapore project. So we took that out as we are starting to ramp up on that already. About 50% of that backlog today is around our traditional end markets, and we see potential for”

Verify independently

SEC filings for LIN ↗ · Quote is verbatim from the 2023Q2 earnings call.