Under Dangote industries limited (DIL), Africa’s richest man has just acquired Twister BV, a gas processing firm in Netherlands.
Twister BV is a highly reputable gas processing firm patronized by several countries like Nigeria, Malaysia, and South American countries.
They operate with an efficient and impeccable technology.
Dangote purchased the company in order to push through with his plans of improving Nigeria’s economy. Buying the company could be seen as a sort of finishing touch to his efforts before now to effect massive change in the Nigerian oil & gas industry and the economy at large.
” This was an important acquisition for us. Twister’s cutting edge gas processing technology is fundamental to delivering our strategy to unlock about 3 billion cubic feet per day (bcfd) of gas in order to meet Nigeria’s gas needs.”– Dangote.
According to Dangote, the project will be fully operational by 2019. He says that this move will help the nation save up as much as $5 billion which is currently spent on the importation of oil into the country.
Report says that the Netherlands firm would help design and build the gas plant. The idea is that the company will process the gas from oil fields, and then transported via Dangote’s planned sub-sea pipeline (EWOGGS) for ultimate consumption by various industries and power plants.
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 recognized 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.
Dangote’s Africa richest title is very significant for the mere fact that his wealth was made from a non-oil & gas sector. With his recent launch into the industry and the subsequent acquisition of Twister BV, Dangote definitely wants to make the experience worth the while.
Once Dangote’s fertilizer and oil & gas projects kick off in 2019, it is hoped that a minimum of 235,000 new jobs will be created. The projects in question is estimated to cost about $17 billion.