Home Business Business man African Richest Man, Aliko Dangote Acquires Gas Processing Company in Netherlands [See Details]
African Richest Man, Aliko Dangote Acquires Gas Processing Company in Netherlands [See Details]
Dangote Industries Limited (DIL) has completed the acquisition of Twister B.V., a gas processing company headquartered in the Netherlands. 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
African Richest Man, Aliko Dangote Acquires Gas Processing Company in Netherlands [See Details] Reviewed by Queen- Doosh on 03:35:00 Rating: 5