GasMeth Energy Ltd has deepened its investment in Rwanda’s clean energy transition with an additional $170 million injection into its Lake Kivu methane extraction and processing project.
According to Business Insider Africa, the new capital brings the company’s total investment to over $560 million, reinforcing its commitment to help Rwanda reduce energy imports and curb deforestation.
According to Stephen Tierney, the company’s Chief Executive Officer, the first phase of the project—valued at about $360 million—is nearing completion. Key infrastructure, including lake sites and onshore facilities, is already in place, with offshore construction now underway.
“The key barge hull is under fabrication, along with pumps, compressors, and other long-lead equipment,” Tierney said.
“This project will help meet Rwanda’s growing demand for cooking gas and automotive fuels while reducing reliance on imported energy.”
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Once fully operational by 2027, the facility is expected to produce 40 million cubic feet of gas per day, significantly contributing to Rwanda’s domestic and industrial energy needs.
Backed by the Government of Rwanda and Afreximbank, the Lake Kivu project aims to make clean energy more accessible while advancing the country’s climate goals.
Tierney emphasized that the methane-to-gas initiative will cut CO₂ emissions, improve air quality, and reduce dependence on wood and charcoal, which remain major drivers of deforestation.
Recent data from the 2024 Integrated Household Living Conditions Survey shows that about 75% of Rwandan households still rely on firewood, while only 5.4% use gas, biogas, or electricity.
GasMeth’s initiative, alongside similar projects such as KivuWatt and Shema Power Lake Kivu, could transform Rwanda’s energy landscape and position it as a continental model for sustainable energy extraction from lake methane.
Signed in 2019, the project initially faced delays due to financing and global supply chain disruptions but has since regained momentum. It currently employs about 250 people in Karongi District’s Bwishyura Sector, a figure expected to triple as operations expand next year.
“This project represents more than an energy investment—it’s an investment in Rwanda’s environmental and economic future,” Tierney added.
