LAGOS, OCTOBER 17, 2016 – As part of its strategies to meet Nigeria’s gas requirements, Dangote Industries Limited (DIL) has completed the acquisition of a gas plant, Twister B.V., a company headquartered in The Netherlands.
A statement made available to journalists on Sunday said the acquisition would complement DIL’s portfolio of investments in the upstream, midstream and downstream segments of oil and gas sector. The company was formerly owned by Shell Technology Ventures Fund 1 before its recent acquisition by DIL together with its partner – First E&P.
It is expected to help design and build the plants that are 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.
Speaking on the new deal, President/Chief Executive Officer, Dangote Industries Limited, Aliko Dangote, said: “This was an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about three bcfd of gas in order to meet Nigeria’s gas needs.”
On his part, 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 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.” According to the statement, 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.
Based on sophisticated patented technology, Twister gas plants are typically cheaper to build and operate compared with alternative technologies. It also delivers better performance levels. The company has customers in Nigeria, Malaysia and South America.