As part of moves to meet Nigeria’s energy demands, the management of Dangote Industries Limited has completed the acquisition of a gas company in Netherland.
According to the company in a statement, Twister BV, the company in question is a provider of robust solutions in natural gas processing and separation to the upstream and midstream oil and gas sector.
“This was 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,” Aliko Dangote, President, Dangote Industries Limited, told CCTV Africa.
He added that Twister’s separation capabilities were intended to increase production and streamline processes in order to capitalize on high-yield gas processing to maximize revenues.
“The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream segments of the oil and gas 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 for ultimate consumption by various industries and power plants,” Twister said.
Twister BV was formerly owned by Shell Technology Ventures Fund 1 before the acquisition by Dangote and its partner, First E&P. The company’s gas plants are inexpensive to construct and operate, and delivers enhanced performance levels. The company has customers in Nigeria, Malaysia and South America.
“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 recognized 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,” John Young, Chief Executive Officer of Twister said.