Roundup: Egypt says Israel's Ashkelon-Eilat oil pipeline to have limited impact on Suez Canal

CAIRO, Feb. 2 (Xinhua) -- Egypt's state-owned Suez Canal Authority (SCA) said on Tuesday that the Ashkelon-Eilat oil pipeline inside and through Israeli territory will have limited impact on the revenues and competitiveness of the Egyptian canal.

The Ashkelon-Eilat pipeline, linking the Eilat oil port on the Red Sea coast with the Ashkelon oil port on the Mediterranean coast, is expected to impact only 12 percent to 16 percent of the crude oil travelling to the north which constitutes 0.61 percent of the total shipment of the Suez Canal, according to a SCA statement.