Stakeholders call for more investors in methane extraction

A three-day international workshop on the monitoring and development of the Lake Kivu gas resources taking place in Rubavu, is seeking to attract more investors in the extraction of the gas. In 2007, the government embarked on the extraction of gas and by July last year, only 2.4 megawatts were being generated, with few investors coming on board.
State Minister Colletha Ruhamya
State Minister Colletha Ruhamya

A three-day international workshop on the monitoring and development of the Lake Kivu gas resources taking place in Rubavu, is seeking to attract more investors in the extraction of the gas.

In 2007, the government embarked on the extraction of gas and by July last year, only 2.4 megawatts were being generated, with few investors coming on board.
The meeting, which started Tuesday, will assess the viability of attracting new potential investors as well as identifying challenges faced.

“Currently, we have few investors in this project, including Rwanda Investment Group, but there is interest from the International Finance Cooperation (IFC) and others from India,” revealed Coletha Ruhamya, the State Minister for Energy and Water.

She added that the government is trying to allay any fears by potential investors by explaining to them how investing in methane is feasible.

Lake Kivu has the capacity to produce 700 megawatts.
“This meeting will also analyze the weaknesses and strengths in regard to the extraction of the resource, and chart the way forward as we share experience with experts and stakeholders,” Ruhamya added.

The meeting comes in the wake of the government announcing that it was reviewing its contract with ContourGlobal, an American firm undertaking the extraction exercise of the gas.

Ends

 

Have Your SayLeave a comment