DANGOTE INDUSTRIAL LIMITED BUYS TWISTER B.V

Dangote Industries Limited (DIL) has recently acquire Twister B.V, a company in the gas sector.

DIL partner with FIRST E&P to acquire Twister B.V.

Before acquisition, Twister B.V was owned by Shell Technology Ventures Fund 1.

DIL has been involve in the oil and gas project in Nigeria. Therefore, the acquisition of this gas firm will help DIL 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. says Businessday Nigeria.

With the recent report from NNPC regarding the loss made in the country due to gas flaring, DIL effort is a smart move.

Nigeria lost $336.33 million in the first half of 2016. The oil companies in Nigeria has flared 112.11 billion Standard cubic feet in the periods under consideration.

Twister’s CEO, John Young was reported by businessday expressing his delight in the acquisition. “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.’

Aliko Dangote, President & CEO 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 3 bcfd of gas in order to meet Nigeria’s gas needs.”

Source: Businessday