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.
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.
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 fertilizer 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.”
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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.