Israel has one main operational Oil Pipeline, known as the "Tipline," built in 1968 to ship Iranian oil from the Red Sea port of Eilat to the Mediterranean port of Ashkelon. During 2003, the Eilat-Ashkelon Pipeline Company (EAPC) conducted work necessary to reverse flows on the 42-inch line, which has a reported, current capacity of 400,000 bbl/d, with possible expansion to 1-1.2 million bbl/d (and 18 million barrels of storage capacity). Russias Tyumen Oil Company, as Well as Kazakh interests, reportedly have expressed interest in the possibility of exporting their crude via the Mediterranean and then through the Israeli line to Eilat, where it could be loaded onto VLCCs (Very Large Crude Carriers) in the Red Sea for shipment to markets in Asia. This would represent an alternative to the Suez Canal, which can accommodate only smaller, "Suezmax" tankers. In October 2003, it was reported that Swiss trader Glencore would ship 1.2 million barrels of Kazakh CPC Blend crude and 600,000 barrels of sour Russian Urals through the line, at a cost of 26 cents/bbl.