A fisherman travels on a boat with his family in front of a tanker, in the Suez canal near Ismailia port city, northeast of Cairo May 1, 2014. (REUTERS/Amr Abdallah Dalsh)
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Egypt plans to increase its production of natural gas by 400 million-500 million cubic feet per day by the end of the year, the country's Oil Minister Sherif Ismail told reporters Monday, in an effort to meet rising energy demand.Speaking at a news conference to launch a campaign to educate the public on ways to conserve energy, Ismail said that Egypt also intended to start importing liquefied natural gas by September to help alleviate its energy shortage.The Oil Ministry has forecast that gas production will be 5.4 billion cubic feet (bcf) per day and consumption 5.57 bcf per day in the next fiscal year.Last week, Egypt's Oil Ministry and Norway's Hoegh reached an agreement for Egypt to use one of Hoegh's FSRUs for five years.
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