Kevin McCarthy: Yes, good morning. With regard to Asia, you had healthy volume growth of 7%. But in the prepared remarks, I think you made a comment that you started 25 new assets in the region over the past year, which sounds like a fairly large number. So I was hoping you might be able to put that into context for us. Looking ahead, would you expect the contributions from those startups to remain elevated or regressed by some amount? How would you describe the shape of that profile in Asia?
Seifi Ghasemi: Kevin, quite honestly, that’s a very good question, , good morning. Should — I did think this is a good opportunity for me to make a comment. At other times, people think that at Air Products, the only thing we do is make our project. We have our base business, and we are making good progress in our base business. We are getting our share of all of these small products. We don’t announce it every time we have a $50 million nitrogen generator, but these things do add up. We had about 25 of them on the stream in Asia. What they are doing is that they are helping us to deliver the volume increases despite the fact that you know that economic activity in China was almost — it has gone from 6%, 7% back to about 2%, 3%.
So we are getting the benefit of that. And these things will help us in the future to make up for any weakness and therefore, continue to help us to deliver good results for that region despite the fact that China might be flat or slowing down. So these are the good things. They are going to contribute, and we are very excited about it.
Kevin McCarthy: Hey, thank you for that. And then secondly, if I may, in North America, you made a comment that volume benefited from a new short-term agreement. Can you elaborate on that? What impact did that have? And how long might it persist?
Seifi Ghasemi: Well, I don’t want to disclose the name of the customer and so on, but we did get an opportunity because we could serve customers that other people couldn’t serve, so we did get that benefit. But I would like to turn it over to Melissa to expand on that, Melissa?
Melissa Schaeffer: Yes. So thank you. So from a volume perspective in the Americas, that agreement was about 3% of the increase in the volume. Now we will see that over the next four quarters, be pretty consistent. So that’s what we would see attributed to 2023.
Kevin McCarthy: That’s helpful. Thank you very much.
Operator: We will take our next question from Jeffrey Zekauskas with JPMorgan.
Jeffrey Zekauskas: Thanks very much. In the NEOM ammonia production project, did the net present value of your one-third ownership stake, in your mind change that is you had a net present value assessment? Is it different now? Or is it the same or lower or higher?
Seifi Ghasemi: Good morning, Jeff. We’re saying that we had a net present value which was the discounting of all of the cash flows that we expect in the few years and now with the project financing is that higher or lower, I think it should be about the same or even better because we are doing project financing, Jeff.
Jeffrey Zekauskas: Right. Because you’re using more capital or the whole — there’s more capital that’s going in. The second question is, have you determined how much ammonia you’re going to make in your Louisiana project? And does that project — is it necessary for there to be a substantial amount of ammonia for that project to go-forward.
