GasMeth Energy LTD, an indigenous Rwandan company, today announced the start of its gas extraction project at a ground-breaking ceremony officiated by The Right Honourable Prime Minister of the Republic of Rwanda, Dr. Edouard Ngirente.
Gasmeth Energy Ltd was awarded a 25-year Concession Agreement by the Government of Rwanda to extract methane gas from the deep, Methane-rich waters of Lake Kivu in Karongi district, Western Province.
The project aims to provide a long-term, environmentally friendly, affordable source of domestically produced gas.
The project includes producing the gas (held in solution in the water), processing it on barges tethered in the lake, piping it to shore, compressing it, and distributing it as Compressed Natural Gas (“CNG”) within Rwanda.
The CNG will replace other fuels on the market such as; gasoline, diesel fuel, peat, coal, wood and LPG. The gas will be used primarily in Rwanda’s transportation, industrial, household, and power generation sectors and, eventually, for export.
Commenting on the start of the construction phase, Gasmeth CEO Stephen Tierney said:
“We are excited to be moving to the next phase of the project. One step closer to realising our plans for supply of a cleaner self-sufficient energy source for Rwandans.”
About Gasmeth Energy Ltd
Gasmeth Energy Ltd is a Rwandan company focused on the processing and delivery of the Lake Kivu compressed natural gas (CNG) project. This project will provide an abundant source of domestically produced gas to transform the Rwandan economy, breaking the dependence on importation of fuels. It will form the basis for attracting all new inward investment and a large step towards a green affordable future. (End)