Dangote
Industries Limited (DIL) has completed the acquisition of Twister B.V.,
a gas processing company headquartered in the Netherlands.
Aliko Dangote
In a bid to meet Nigeria’s gas requirements, Dangote industries
Limited (DIL) has completed the acquisition of Twister B.V, a company
based in the Netherlands.
Twister B.V. used to be owned by Shell Technology Ventures Fund 1,
before its recent acquisition by DIL along with its partner - First
E&P, delivers reliable, high-yield and robust solutions in natural
gas processing and separation to the upstream and midstream oil and gas
sectors.
Based on sophisticated patented technology, Twister gas plants are
typically cheaper to build and operate compared to alternative
technologies, and also deliver better performance levels. The company
has customers in Nigeria, Malaysia, and South America.
The acquisition complements DIL’s portfolio of investments in the
upstream, midstream and downstream segments of the Oil & Gas sector.
The company will help design and build the gas plants which would
be critical in processing gas from oil fields for transportation via
Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by
various industries and power plants.
Speaking on the new acquisition, President and CEO of Dangote
Industries Limited, Aliko Dangote said it was an important acquisition.
“Twister’s cutting edge gas processing technology is
fundamental to delivering our strategy to unlock about 3 bcfd of gas in
order to meet Nigeria’s gas needs,” he said.
“We are delighted with the confidence DIL and First E&P
have shown in Twister to be their core provider of gas separation
solutions. After a very thorough due diligence, our technology has been
recognised as a key enabler to reduce gas project costs which is crucial
in this current environment. We are excited to be part of the Dangote
family of companies,” Twister’s CEO, John Young.
Sources: Africa News / DailyTrust
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