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Africa's richest man, Aliko Dangote has
completed the acquisition of Twister B.V., a
gas processing company headquartered in
the Netherlands.
A statement by his company, Dangote
Industries Limited (DIL) announcing the
new acquisition, says the new company
would help design and build the gas plants
which would be critical in processing
gas from oil fields for transportation via
Dangote’s planned sub-sea pipeline
(EWOGGS) for ultimate consumption by
various industries and power plants.
The statement quotes Dangote as saying
“This was an important acquisition for us.
Twister’s cutting edge gas processing
technology is fundamental to delivering our
strategy to unlock about 3bcfd of gas in
order to meet Nigeria’s gas needs.” Chief
Executive Officer of Twister, John Young
who also spoke on the new deal 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.” Dangote is currently
building a refinery and fertilizer project that
is expected to be in operation in the first
quarter of 2019. The projects is expected to
cost a minimum of $17 billion.
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| Article Name | Dangote acquires gas
processing company in
Netherlands |
| Description |
|
| Author Name | Head Admin |
| Published On | 10/17/2016 |
| Post Category |
NEWS AND GOSSIP
|
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