Eli Cohen to Chris Wright: Let's build a pipeline from Saudi Arabia to Eilat

Energy Minister Eli Cohen met today (Wednesday) with Energy Secretary Chris Wright to discuss a variety of regional energy issues, including a proposed oil pipeline from Saudi Arabia to Eilat, with the aim of increasing regional stability, according to Israel Hayom.

The two energy officials also discussed a range of other projects as part of the Abraham Accords and relations between Israel and Greece and Cyprus, under the leadership of the United States.

During the meeting Minister Cohen proposed to Wright to create a new oil pipeline directly from Saudi Arabia to Israel, where oil could then be shipped directly to Europe via the Mediterranean Sea. The planned pipeline is expected to be about 700 kilometers, and would be the "shortest, quickest, and safest" way to ship oil from the Middle East to Europe.

This is especially true in the wake of the effective closure of the Red Sea to shipping, including oil containers, by Iran-backed Houthis, in the wake of October 7 and the war in Gaza.

While the Houthis hit damaged relatively few ships and caused only a small number of casualties with their attacks on ships in the Red Sea area, they have been sufficient to force insurance companies and shipping companies to prefer the longer and more expensive route around the continent of Africa rather than risk damage to ships and cargo or harm to the crew - or even hijacking by the Houthis.

A potential loser from such a pipeline would be Egypt, which makes an important part of its revenue from fees collected from ships passing through the Red Sea and the Suez Canal from the Middle East and Asia generally on the way to Europe. A direct pipeline would mean that oil shipments via the Suez Canal would decline even if the Houthis ceased their current blockade entirely and permanently.