EAPC meaning in Business ?

Answer:

What is Eilat Ashkelon Pipeline Company mean?

The Eilat Ashkelon Pipeline Company (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.

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. 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.

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.

reference

Full Form	Category
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Eilat Ashkelon Pipeline Company	Business
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