In 2003 I wrote about Israel's potential as a transshipment point from the Mediterranean oil market to the Asian oil market. I viewed it as a potential for Russia to arbitrage away the up to $3/bl "Asia premium". Today, it seems that the project still lives but the rationale and players have changed. Russia has stepped back and Turkey has stepped up. Now it's not just an anti-OPEC move but also an anti-Russia move.
The appeal of the Israeli pipeline is obvious. It's just a matter of who is going to take advantage of the geographic facts.