Jillian Evanko: Let me start. Let me step back and start with a broader LNG €“ Big LNG comment, in that we have both the IPSMR, IPSMR plus process technologies as well as the equipment. So we can sell that as a package with the process or the equipment that goes into, like you described, the larger scale variety that doesn’t use the mid-scale process technology that we offer. So we are bullish on existing customers that we have doing expansions or new builds. So I won’t go into specific customer names, but certainly more than one of our existing customers is giving signal that they’re going to do more projects ahead. And then, on the large scale that don’t use IPSMR process technology, we do anticipate content that ranges from air cooled heat exchangers to pretreatment, which could use a brazed aluminum heat exchanger and cold box as well to stand in a variety of different associated vacuum insulated pipe, et cetera.
With all that said, an equipment style only order for those types of projects can range from $50 million to a couple of hundred million dollars per project. Depends on the size, et cetera. So, all in all, we have a pretty broad opportunity set on the Big LNG, ranging from just the equipment through to the process technology.
Sam Burwell: Follow up on hydrogen. No orders in the quarter, although I see you called one out that’s imminent. And then, year-to-date, it looks like you did, like, close to $65 million of orders. Curious, of those that you call out on slide 7, aside from the South Korea one that’s obvious, like, were all those in the US? Just trying to gauge, how has the IRA been digested by customers thus far? Are they still trying to work through all the nuances before they FID or fully underwrite a project and then send an order into you guys? Do you expect that once it’s better digested that hydrogen orders can accelerate and become more consistent quarter to quarter as we move forward?
Jillian Evanko: Yes. I’ll take your question in two parts. The first is year-to-date, and this is as of a couple of nights ago, we were about $69 million in hydrogen related orders. And then, just the last night, I think we’re close to finalizing $6 million to $7 million additional hydrogen order on top of that. In terms of the second part of your question on the geographies and then the IRA and how that’s impacting, we’re seeing €“ obviously, like you said, the South Korea, I put that on a slide, in particular, because that’s an interesting one where we’re actually providing that solution and building that out of Chart China. We can build that tank in US, in India, as well as in China. So we’ve seen a nice ability to geographically hit these end markets in a cost effective way on where we build what.
That definitely is the largest percent of our orders in 2022 for hydrogen. And to start 2023, our North American €“ I say North American versus the US because Canada has been pretty active as well. The IRA, I would say, is definitely generating an active commercial pipeline with respect to hydrogen, water and CCUS. I think it’s showing up in our order book to date more so in CCUS than it is in hydrogen, but that we would expect to see that accelerate in 2023, in particular, as customers that are not your traditional hydrogen users, like your industrial gas guys, but more of the hydrogen specific customers, digest how the credit system and the stimulus funds work, whether you can stack the credits if you do multiple different combinations of CCUS and hydrogen together as an example, as well as the IRS requirements and how that works with the IRA.
