Christopher Parkinson: Great. Thank you so much. Seifi, just given all the macro uncertainty that’s prevailing across the globe, can you just give us your current assessments of where you think you stand as well as the operating rates for the regional merchant businesses? Thank you.
Seifi Ghasemi: Thank you very much, Chris. Right now, obviously, it’s very difficult under the current circumstances to predict what is going to happen in the next few quarters. But we feel very confident about our own operations and about our ability to keep our plants running and service our customers. And as I look around the world, we obviously saw the Chinese economy a little bit weaker in the first quarter than we expected. Right now, my view on the Chinese economy is — we have to wait and see how it comes out after the Chinese New Year. We don’t expect any kind of disaster or any bad news, but it’s just a question of the rate of improvement how would that be? We are very well-positioned there. We have taken action to increase prices and most important, as I said, we are benefiting from the fact that we have 20, 25 smaller projects that we usually don’t announce, but they are standard industrial gas projects, they are coming on stream, and they are contributing.
So we feel that we will be able to deliver on Asia in general. In Europe, the economy again, was weaker than we expected in the first quarter. But right now, energy prices seem to have a stabilized. Power prices have stabilized, natural gas prices have not yet. But overall, we think that we should be okay in Europe. And in the U.S., you saw our actions in respect to pricing last quarter, we got overall,7% — overall for the whole company, we’ve got 7%. But in the U.S., we got almost 14% price increase, which translates to almost 19% — 20% price increase on the merchant side. Latin America is always very big, so we don’t talk about it too much. So overall, we feel pretty confident that we should be able to deliver forecast that we have given you for the year.
Christopher Parkinson: That’s helpful. And just as a quick follow-up, just given now that investors and your team has had an opportunity to digest the IRA. Is there any key opportunity that’s, let’s say, specific to Air Products that you believe investors are missing? Is there something on the HEICO facility retrofits? Is there just anything else in terms of that materialization over the next several years that we all should be paying attention to? Thank you.
Seifi Ghasemi: Hi, Chris. That’s a very, very good question. I don’t want to comment too much about the IRA benefits because the law is that everybody can read that. But the opportunities for Air Products that we will definitely follow-through is, number one, we did put carbon capture on our existing facilities. There is two benefits on that: Number one, we reduced our CO2 emissions; and number two, that gives us an opportunity to have a lower carbon hydrogen that we can sell at higher prices. We will definitely do that. Then we are benefiting from the IRA before the IRA, which was the project that we had announced before the IRA, which was the project in Louisiana. We did that project with the economic space, no IRA benefit on $85 for CO2 capture.
