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Monday, 17 October 2016

DANGOTE BUYS GAS FIRM IN NETHERLAND

The management of Dangote Industries Limited on Sunday announced that it had completed the purchase of Twister BV, a company in the Netherlands, as part of its plan to meet Nigeria’s gas needs.

According to a statement by Dangote, Twister BV provides robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors.

The President, Dangote Industries Limited, Aliko Dangote, in a statement said, “This was an important acquisition for us. Twister’s cutting-edge gas processing technology is fundamental to delivering our strategy to u nlock about three billion cubic feet per day of gas in order to meet Nigeria’s gas needs.”

The Chief Executive Officer, Twister, John Young, said, “We are delighted by the confidence that the DIL and First E&P have shown in Twister to be their core provider of gas separation solutions.
“After very thorough due diligence, our technology has been recognised as a key enabler to reduce gas project costs, which is crucial in the current environment; we are excited to be part of the Dangote family of companies.”
According to the statement, based on sophisticated patented technology, Twister gas plants are typically cheaper to build and operate, compared to alternative technologies, and deliver better performance levels. The company has customers in Nigeria, Malaysia and South America.

It said, “The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream segments of the oil and gas sector. The company will assist in the design and construction of the gas plants, which will be strategic in processing gas from oil fields for transportation via Dangote’s planned sub-sea pipeline for ultimate consumption by various industries and power plants.”

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