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Egypt will need to import an additional $1 billion worth of petroleum products and secure significant natural gas supplies as it scrambles to meet energy needs for the summer, Oil Minister Sherif Ismail has told Reuters.Egypt in October tendered for a floating terminal needed to import LNG.Analysts say about 75 percent of electricity production in Egypt is dependent on gas, not fuel oil.Egypt has said it has received $4 billion in fuel products from Gulf nations since Morsi's ouster. Ismail said Egypt would require more imports for the summer.
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