Dangote Industries Limited (DIL) has completed the acquisition of Twister B.V., a gas processing company headquartered in the Netherlands.
Twister B.V. used to be owned by Shell Technology Ventures Fund 1, before its recent acquisition by DIL along with its partner – First E&P.
A statement yesterday from DIL said the acquired 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.
Aliko Dangote, President & CEO of Dangote Industries Limited said, “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.”
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 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.”