Your other question is about coal boilers and kilns. You asked about DME. DME, we don’t see demand growing there, that’s sort of what I’ll say is sort of a mature application not seeing investments in that space, but it’s sort of steady demand, above 4 million tons of demand per year with a lot of growth rates on that. Coal boilers and kilns, we see that that conversions continue to happen, mainly in the smaller commercial applications for commercial heating and commercial residential heating. So continuing to track that. We put a number on it, it’s probably in a 4% to 5%, it’s not — we’re not seeing huge growth rates there. The other area that we’re watching is demand for vehicle fuels. Kee Lee is promoting a number of different applications, M100 vehicles, heavy duty trucks, as well as hybrid sedans.
And so they have some quite optimistic marketing plans for especially heavy duty trucks. So yes, so those are the applications we’re watching and continuing to track.
Laurence Alexander: Okay, thank you. And can you also just speak to kind of your philosophy or your view on what Methanex’s strategy should be on green methanol? And also what you see is the current kind of state of the market? I think as far as to keep track, I think there’s about 1.5 million tons of projects already announced, but I’m not sure if we’re catching everything. So just curious about what you see in terms of — what’s in the pipeline and how you want to participate in that?
Rich Sumner: Yes. I think if you break those projects down, you’d see those are a lot of announcements that haven’t reached full commercial or project approval. So I think the pace of those projects is something that we’re watching. As it relates to Methanex, we’re looking at a number of different areas and when it relates to low carbon. First — the first and the easiest thing for us to do is renewable natural gas. So, we’re certified in North America in our Geismar plants and we’re active in the renewable natural gas market where we buy renewable gas at a premium and create green methanol and supportive of downstream customers. When it comes to investments, we’re looking at the feasibility of carbon capture in the U.S. And that’s on the back of benefits and tax incentives under the Inflation Reduction Act, as well as sequestration availability in Louisiana.
So we’re looking at the feasibility of that and we’re also looking at the feasibility of e-methanol, a small e-methanol investment in our — at our New Zealand site and we think that that is something we could apply to multiple sites. These are very early, really in the feasibility stage understanding technology, understanding capital and these things will take government support as well as customer demand and willingness to pay. So I think our strategy is to try to make sure we’re positioning the company the right way as those things advance and there’s — and the conditions for investment improve.
Laurence Alexander: Thanks. And just to clarify on the biogas route. Are you making the same profit per gallon using the biogas as you are on regular gas?
Rich Sumner: So I guess the answer is, yes. And I guess the answer would also be it, it would depend on each agreement we would get in. And as of right now, we’re still in discussions on that.
Laurence Alexander: Perfect. Thanks.
Operator: Your next question comes from the line of Bernard Horn with Polaris Capital. Please go ahead.
