Eilat Ashkelon Pipeline Company
Israeli petroleum company From Wikipedia, the free encyclopedia
Israeli petroleum company From Wikipedia, the free encyclopedia
The Eilat Ashkelon Pipeline Company (Hebrew: חברת קו צינור אילת אשקלון בע"מ (קצא”א), also known as the Europe Asia Pipeline Company and by the acronym EAPC) operates several crude petroleum and refined petroleum products pipelines in Israel, most notably the Eilat Ashkelon Pipeline – which transports crude oil across southern Israel, between the Red Sea and the Mediterranean Sea. The EAPC also operates two maritime oil terminals as well as oil storage depots in the country.
Company type | Public |
---|---|
Founded | 1968 |
Headquarters | Ashkelon, 78101 , Israel |
Area served | Israel |
Website | www.eapc.co.il |
The company was originally formed in 1968 as a 50/50% joint venture between Israel and Iran (during the Shah's rule) to transport crude oil shipped from Iran to Europe.[1][2] However, Israel nationalized the company following the 1979 Iranian Revolution and the subsequent severing of relations between the two countries. In 2015, a Swiss court ordered Israel to pay Iran $1.1 billion in compensation for this, which it refused to do, arguing that this was prohibited by its Trading with the Enemy Act.[3]
The services of the EAPC are: transporting crude oil and refined products, long term storage, crude oil blending, processing of liquefied petroleum gas, fuel oil, distillates and gas.
Eilat Ashkelon Pipeline Company is one of Israel's most secretive companies. According to the Financial Times, "EAPC has operated since its founding under a blanket state decree that shrouds its affairs in secrecy. Israel says the decree was issued for reasons relating to national security."[4]
This project reversed the flow direction of Eilat-Ashkelon pipeline oil - meaning that it can now also flow southwards instead of only northwards, as originally conceived when Israel consumed Iranian oil. The idea behind the project is to transport crude oil from Russia, Central Asian republics and the Caucasus through the Black Sea or the Baku-Tbilisi-Ceyhan pipeline to Southern Asia and the Far East at a competitive price. The capacity and size of the Suez Canal is limited and therefore expensive.
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.