Thursday, November 14, 2024

Rwanda seals $400m deal for bottled gas production

Must read

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...
Fred Dzakpata
Fred Dzakpata is a Ghanaian journalist who specializes in business reporting in Africa.

US firm Gasmeth Energy has signed a $400 million agreement with Rwanda for the production of bottled gas.

The gas will be produced from Rwanda’s Lake Kivu to power electricity.

The deep waters of Lake Kivu is located on Rwanda’s border with the Democratic Republic of Congo.

But the Lake is known for emitting menthane substance which is dangerous for dweller around the Lake.

Per the agreement signed last week, Gasmeth Energy will finance, build and maintain a gas extraction.

The firm will also process and compress plant to retail methane both in Rwanda and abroad.

The new seven year deal according to Clare Akamanzi, CEO of Rwanda Development Board will help cut local dependence on traditional wood and charcoal used by most homes and businesses.

Making gas cheaper

The Rwanda Development believes the entrance of Gasmeth Energy into the market will help make gas more affordable.

It says production of bottled gas is likely to lessen the emission of such gas openly and help reverse the dangers associated with the killer lake.

The eruption of smaller menthane emitting Lakes in Cameroon led to some explosions killing about 1,800 people.

President Paul Kagame last year approved the decision that allows Rwanda Development Board to enter concession and implementation agreement with Gasmeth Energy to extract methane gas.

The Rwandan government says it wants to provide energy access to all Rwandans by 2024.

The firm Contour Global currently produces 26.4 megawatts of power with plans to produce 100 megawatts during its second phase of work.

Another US-based Symbion Power also owns two plants all of which are located at the shores of Lake Kivu.

 

 

 

Source: Africafeeds.com

- Advertisement -

More articles

- Advertisement -

Latest article

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...

Ghana’s new law that jails citizens not wearing facemask 10 years

Ghanaians who fail to wear the face masks in compliance with a presidential directive risk going to jail for ten years. They also face a...