That vent's primary purpose is not to vent the heat. The vent is to get rid of the carbon monoxide that it is also producing along with CO2. Leave the vent alone, it could save your life. The access panel on the bottom is for maintenance and pilot flame access, I doubt a properly functioning water heater will have any gases coming from there if the vent is doing its job. Unless you have a way of separating the gas I would find another way.