File - Flames are seen after an explosion went off at a gas terminal in Egypt's northern Sinai Peninsula on Saturday, Feb. 5, 2011 in El-Arish, Egypt, July 12, 2011. (AP Photo/Ashraf Swailem)
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Egyptian Oil Minister Sherif Ismail said Monday that the country would acquire new gas storage and processing technology in time to meet a looming shortfall in energy supplies that is expected to hit in the summer.Ismail told Reuters last month that Egypt needed $1 billion worth of petroleum products and to secure significant natural gas supplies to meet this summer's energy needs.Negotiations are underway with foreign firms, including Algeria's Sonatrach, to secure natural gas imports to run power plants in Egypt this summer, Ismail was quoted as saying last week.
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