In a bid to meet Nigeria’s gas
requirements, Dangote Industries Limited (DIL) has completed the
acquisition of Twister B.V, a company based in The Netherlands.
The
company delivers reliable, high-yield and robust solutions in natural
gas processing and separation to the upstream and midstream oil and gas
sectors. Its unique separation capabilities are designed for augmenting
production and streamlining processes, and to capitalise on high-yield
gas processing for maximising revenues.
Based on sophisticated
patented technology, Twister gas plants are typically cheaper to build
and operate compared to alternative technologies, and also deliver
better performance levels. The company has customers in Nigeria,
Malaysia, and South America.
The acquisition complements DIL’s
portfolio of investments in the upstream, midstream and downstream
segments of the Oil & Gas sector. The company will 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.
Speaking on the new acquisition, President and CEO of
Dangote Industries Limited, Aliko Dangote said it was an important
acquisition.
“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.” he said.
“We are delighted
with 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,” Twister’s
CEO, John Young.
It would be recalled that the refinery and
fertiliser projects of Dangote Industries Limited is reported to have
the capacity of creating a minimum of 235,000 new jobs, both direct and
indirect jobs, as it becomes operational in the first quarter of 2019.
Dangote, who revealed this recently, also stated that the projects would cost a minimum of $17 billion.
He
said the $12 billion refinery would have a capacity of 650,000 barrels a
day. He assured that there will be market for the refined products
adding that even in Africa, only three countries have effective
functioning refineries with others importing from abroad.
Dangote
named the countries with refineries as Egypt, South Africa and Cote
d’Ivoire, saying “Our refinery will be ready in the first quarter of
2019. Mechanical completion will be end of 2018 but we will start
producing in 2019.”
Dangote said the project when fully in
operation in 2019, would help the country save $5 billion spent on the
importation of oil into the country. |
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