Rwanda Approves $400 million deal to extract gas from Lake Kivu

The government of Rwanda has signed a $400 million deal with Gasmeth Energy to extract methane gas from Lake Kivu.

The seven-year project will see Gasmeth draw gas from the lake floor for bottling and use as fuel. There are already two companies extracting gas from the lake, which is used to power electricity plants. It is hoped that the bottled methane will reduce local reliance on wood and charcoal, as well as preventing toxic gas bubbling to the lake’s surface that could cause explosions endangering populations living on the shores of Lake Kivu.

The Rwanda Development Board chief executive Clare Akamanzi is quoted by Reuters as stating that the project is part of the country’s green agenda, supporting efforts to ensure consumers can enjoy “affordable gas which is environmentally friendly.”

Gasmeth Energy, which is owned by US, and Nigerian businessmen and Rwandans, expects the gas to be on sale within two years and intends to sell the gas both domestically and abroad.