Dangote Buys Gas Firm in the Netherlands
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.”