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Monday, 17 October 2016

Aliko Dangote Buys Dutch Gas Firm to Complement oil Investments

The Dangote industries Limited (DIL) has acquired Twister B.V, a gas company company based in the Netherlands.

Twister B. V. basically delivers solutions in natural gas processing and separation to the upstream and midstream oil and gas sectors. The firm is known to have unique separation capabilities which help augment production and capitalise on high-yield gas processing for maximising revenues.

In addition, Twister gas plants are typically cheaper to build and operate compared to alternative technologies. The firm has customers in Nigeria, Malaysia, and South America.

The acquisition complements DIL’s portfolio of investments in the upstream, midstream and downstream oil and gas sector as it 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 about the acquisition, Aliko Dangote said: “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 also added that the Dangote refinery in Lagos will be ready in the first quarter of 2019. "Mechanical completion will be end of 2018 but we will start producing in 2019," he said.

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