CMA CGM to buy 12,000 tons of biomethane to help scale market

In France, Reuters reports the CEO of the CMA CGM told a UN sustainability conference that the company was going to buy 12,000 metric tons of biomethane in order to help boost interest in the fuel and bring the market to scale. The volume to be purchased represents roughly the annual fuel consumptions of two smaller European vessels. The company is interested to use biomethane in its LNG ships but biomethane is currently double the price of its fossil-based equivalent so achieving scale is key for it to consider transitioning.