Fidelity bank card banner Emerald Energy Institute Camano banner

Dangote buys European gas company

By News Express on 16/10/2016

Gmail icon

Views: 3,074


As part of its strategy to meet Nigeria’s gas requirements, Dangote Industries Limited (DIL) has completed the acquisition of Twister B.V, a company headquartered in the Netherlands.

Twister B.V. 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.
The Twister B.V. used to be owned by Shell Technology Ventures Fund 1 before its recent acquisition by DIL together with its partner – First E&P.
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, Aliko Dangote, President and CEO of Dangote Industries Limited said it “was an important acquisition for us. 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.”
Twister’s CEO, John Young said: “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.”
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.
President of Dangote Group, Aliko Dangote, who revealed this recently, also stated that the projects would cost a minimum of $17 billion.
Dangote 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 because even in Africa, only three countries have effective functioning refinery with others importing from abroad.
Dangote named the countries with refinery 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.”
When the projects fully take off in 2019, Dangote said it would help the country save $5 billion spent on the importation of oil into the country.
The refinery, petrochemicals and fertilizer in one spot according to him is the single largest stream in the world. “This site is the biggest site in the world, the refinery is the biggest single refinery in the world, and the petrochemicals are 13 times bigger than Eleme Petrochemicals while the fertilizer plant will be 10 times bigger than former National Fertilizer Company”.
He explained that the project with the $2 billion fertilizer unit was the funded through loans, export credit agencies and our own equity.
•Text courtesy of LEADERSHIP Sunday. Photo shows Dangote Group President Aliko Dangote.

Source News Express

Posted 16/10/2016 11:27:27 AM

 

 

CLASSIFIED ADS

 

You may also like...
Heavyweights storm Sokoto as Ex-President Shagari is buried...

Dickson accuses Dame Jonathan of sponsoring crowd that...

HURIWA hits Senate for rejecting Gender Equality Bill,...

UK Prime Minister appoints Minister for Loneliness

21,000 people to benefit from $200m World Bank...

Konga appoints Ex-NOKIA VP as CEO

Fidelity Bank sponsors world’s biggest entrepreneurial TV programme...

CPC attacks Jonathan over Christmas Message

Don’t tarnish police image, AIG warns policemen

NiMET predicts rain showers, clouds and thunderstorms for...

Saudi official reveals the truth about how Journalist...

UNDP, online publishers dialogue on peaceful elections

 

Latest News Apprehension as Military Commander disappears in Kaduna CAN raises alarm over quit notice to church Police declares notorious armed robber wanted in Imo Buhari is incompetent, has dragged Nigeria into dungeon of poverty — Sheikh Gumi FG seeks fresh $2.5bn World Bank loan War Theatre bans NGO over alleged sabotage, connivance with Boko Haram Support to education better than lavish burials, naming ceremonies — Obi Nigerian bags six life sentences, 129 years’ imprisonment for human trafficking in South Africa Why we dialogue with bandits — IGP Ebonyi indigenes kick against Umahi’s airport Cult clashes: Curfew imposed on parts of Delta Xenophobia: Imo tops list of second batch of returnees from South Africa

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (542,032 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (443,644 views) Shameless Genevieve Nnaji exposes breasts in public (390,057 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (327,049 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (295,148 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (253,897 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (250,124 views) 10 cars more expensive than Jets (238,774 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (231,814 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (217,811 views) Lagos plane crash: Journalist releases victims’ names (196,146 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (193,709 views)

 

CBN milk production

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (102) Business & Economy (4,453) Business Verdict (80) Columnists (1,112) Complaints & Requests (96) Enterprise & Opportunities (215) Entertainment (664) Features (813) Global Business Monitor (443) ICT Monitor (63) International (3,965) Interview (203) Live Commentary (30) Love Matters (170) Maggie's Blog (414) News (51,519) Opinion (1,360) Pidgin (17) Politics (11,455) Religion (1,102) Sports (2,171) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera