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Monday, October 17, 2016

DANGOTE ACQUIRES GAS PROCESSING COMPANY IN NETHERLANDS

Dangote Industries Limited (DIL), owned by Africa's richest man, Aliko Dangote, has acquired  a gas processing company headquartered in the Netherlands. The acquisition is part of the company’s strategies to meet Nigeria’s gas shortfall.


The company added that Twister BV offers robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors.

Twister’s separation capabilities were built to ease production and streamline processes to capitalize on high-yield gas processing for maximizing revenues.

The president of Dangote Industries Limited, Mr. Dangote said, “this is an important acquisition for us, Twister’s cutting-edge gas processing technology is fundamental to delivering our strategy to unlock about three billion cubic feet per day 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 recognized as a key enabler to reduce gas project costs, which is crucial in this current environment.

Twister BV was a subsidiary of Shell Technology Ventures Fund 1 before its acquisition by Dangote and its partner, First E&P.

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