Monday, 17 October 2016

Dangote acquires gas processing company in Netherlands

Africa's richest man, Aliko Dangote has completed the acquisition of Twister B.V., a gas processing company headquartered in the Netherlands.

A statement by his company, Dangote Industries Limited (DIL) announcing the new acquisition, says the new company would 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.




The statement quotes Dangote as saying “This was an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3bcfd of gas in order to meet Nigeria’s gas needs.” Chief Executive Officer of Twister, John Young who also spoke on the new deal 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 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.” Dangote is currently building a refinery and fertilizer project that is expected to be in operation in the first quarter of 2019. The projects is expected to cost a minimum of $17 billion.
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