Dangote acquires $12b foreign gas firm

The Nation reports that Dangote Industries Limited (DIL) has bought Twister B.V., a company headquartered in the Netherlands delivering 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 capitalise on high-yield gas processing for maximising revenues. Based on sophisticated patented technology, Twister gas plants are cheaper to build and operate compared to alternative technologies, and deliver better performance. The company has customers in Nigeria, Malaysia, and South America, The Nation reports.

The Nation reports that the acquisition complements DIL’s portfolio of investments in the upstream, midstream, and downstream segments of the sector. The company will help design and build the gas plants, which will be critical in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by industries and power plants.

Also, The Nation reports that Aliko Dangote, president & chief executive officer of Dangote Industries Limited said: “This is 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 to meet Nigeria’s gas needs.”

Twister’s Chief Executive Officer  John Young said:  “We are delighted in the confidence DIL and First E&P have shown in Twister…  After a thorough due diligence our technology has been recognised as a key enabler to reduce gas project costs, which is crucial in this environment. We are excited to be part of the Dangote family of companies” The Nation reports.

Source: The Nation