Dangote Acquires Gas Company in Netherlands
Africa’s richest man, Aliko Dangote, through hiscompany Dangote Industries Limited (DIL), has completed the acquisition of Twister BV, a gas processing company based in Netherlands.
Twister’s 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 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.
“Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3 billion cubic feet per day (bcfd) of gas in order to meet Nigeria’s gas needs.” Dangote 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
The company delivers reliable, high-yield and robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors.
Dangote said the project when fully in operation in 2019, would help the country save $5 billion spent on the importation of oil into the country.