Aliko Dangote, Africa's richest man, has completed the acquisition of a gas processing firm, Twister B.V. with its headquarters in the Netherlands. The new acquisition was announced in a statement by Dangote Industries Limited (DIL), affirming that the new company would help design and build gas plants which would be critical in processing gas from oil fields for transportation through Dangote's planned sub-sea pipeline (EWOGGS) for ultimate consumption by various industries and power plants. "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," DIL statement said. Chief Executive Officer of Twister, John Young, was also quoted as saying: "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." As part of his plans to meet Nigeria's oil needs, it would be recalled that Dangote is currently building a refinery and fertilizer project that is expected to be in operation in the first quarter of 2019. The projects is expected to cost a minimum of $17 billion. Posted via Festechvibes panels.
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