The media in Tel Aviv have reported that the UAE has invested as much as $100 million in an ambitious Israeli project to pipe natural gas to Europe.
The investment would be made by a company based in Abu Dhabi for a pipeline project which is internationally known to be unique given its record length as well as the extreme depths it would be laid toward Europe, Lebanon’s al-Mayadeen quoted Israeli media as reporting.
The agreement has been described as “historic” by Israeli media, al-Mayadeen added.
Israel has signed a multilateral deal over the scheme – called the East Med Pipeline Project – with Greece, Italy and Cyprus. The European Union also supports the project.