Dangote Buys Gas Firm in the Netherlands

October 16, 2016, 11:08 pm

The management of Dangote Industries Limited on Sunday announced that it had completed the acquisition of Twister BV, a company in the Netherlands, as part of its strategy to meet Nigeria’s gas needs.

According to a statement by Dangote, Twister BV provides robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors.

It said Twister’s separation capabilities were designed to augment production and streamline processes to capitalise on high-yield gas processing for maximising revenues.

 

Twister BV used to be owned by Shell Technology Ventures Fund 1 before its recent acquisition by DIL and its partner, First E&P, the statement said.

The President, Dangote Industries Limited, Aliko Dangote, was quoted as saying, “This was an important acquisition for us. Twister’s cutting-edge gas processing technology is fundamental to delivering our strategy to u nlock about three billion cubic feet per day of gas in order to meet Nigeria’s gas needs.”

The Chief Executive Officer, Twister, John Young, said, “We are delighted by the confidence that the DIL and First E&P have shown in Twister to be their core provider of gas separation solutions.

“After very thorough due diligence, our technology has been recognised as a key enabler to reduce gas project costs, which is crucial in the current environment; we are excited to be part of the Dangote family of companies.”

According to the statement, based on sophisticated patented technology, Twister gas plants are typically cheaper to build and operate, compared to alternative technologies, and deliver better performance levels. The company has customers in Nigeria, Malaysia and South America.

It said, “The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream segments of the oil and gas sector. The company will help design and build the gas plants, which will be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline for ultimate consumption by various industries and power plants.”

Like this story? Get on the list for updates...it's FREE!.

Related News

LATEST POSTS

IT Expert Alex Mutuku Charged With Hacking Tax Agency, Stealing $40m

Kenyan authorities have charged an IT expert with hacking into the country's tax authority and stealing almost $40m, according to local media.<....

"I want To Die To Be Free From Those I Owe" - Woman Who Attempted Sucide

Barely six days after a Lagos-based medical practitioner, Dr. Allwell Orji, commi....

8 Cars With Bad Safety Ratings in 2015

Automotive safety has come a long way in the past 56 years, and the Insurance....

Obamacare Survives, US Republicans Pull Trumpcare Bill For Lack Of Votes

Republican leaders of the House of Representatives pulled legislation to overhaul the US healthcare system from consideration on Friday, Ma....

Buhari to visit Sambisa Next Week

President Muhammadu Buhari is expected to declare open this year’s Nigerian Army Small Arms Championship in Sambisa forest in Borno.

<....