An oil pipeline running from the Red Sea resort of Eilat to the Mediterranean port city of Ashkelon will be extended to the United Arab Emirates, providing the UAE with a bridge to get fossil fuel directly to Europe, an Israeli company said Tuesday. It is seen as one of the most significant collaborations to have emerged since the countries established diplomatic ties.The memorandum of understanding is between the state-owned Europe-Asia Pipeline Co., formerly the Eilat-Ashkelon Pipeline Co., and a company called MED-RED Land Bridge, which is a joint venture between Israelis and Emiratis, according to an announcement. (Read More)
