Memorandum of Understanding signed between Israel and UAE jointly owned company Med, Redland Bridge. Israeli pipeline company EAPC has signed a preliminary agreement to deliver UAE oil to Europe through one of its pipelines. Under the agreement, UAE oil will be transported to Europe via the Israeli Red Sea town of Eilat via a pipeline between the Israeli port of Ashkelon on the Mediterranean Sea.
Israel's state-owned EAPC said in a statement that it had signed a memorandum of understanding in Abu Dhabi with the Israeli-UAE joint venture Med, Redland Bridge. However, the company did not release financial details. However, sources said that the final deal could be between سے 700 million and 80 800 million. It will be for several years and will run through the Israeli company's Pine Line in 2021. Oil shipments to Europe will begin in early May.
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