Nigerian Billionaire, Aliko Dangote Acquires Gas Company In Holland

As part of its strategy to meet Nigeria’s gas requirements, Dangote Industries Limited (DIL) has recently completed the acquisition of Twister B.V., a company headquartered in the Netherlands.
Twister B.V. delivers reliable, high-yield and robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors. Twister’s unique separation capabilities are designed for augmenting production and streamlining processes, to capitalize on high-yield gas processing for maximizing revenues. Twister B.V. used to be owned by Shell Technology Ventures Fund 1, before its recent acquisition by DIL together with its partner – First E&P. 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.
Aliko Dangote, President & CEO Dangote Industries Limited said: “This was an important acquisition for us. 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.”
Twister’s CEO, John Young said “We are delighted in 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 recognized 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.’
President of Dangote Group, Aliko Dangote, who revealed this recently, also stated that the projects would cost a minimum of $17 billion.
Dangote said the $12 billion refinery would have a capacity of 650,000 barrels a day. He assured that there will be market for the refined products because even in Africa, only three countries have effective functioning refinery with others importing from abroad.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s