Israel and Lebanon Agree on Maritime Deal for Gas-Rich Area
- US-brokered agreement may enable more gas production
- Lebanon calls final draft satisfactory meeting its demands
Lebanese protesters demand the right to its oil and gas fields on the Mediterranean Sea, in Naqoura, Lebanon, on Sept. 4.
Photographer: Mohammad Zaatari/APIsrael said it reached “an historical agreement” with Lebanon after both sides approved the latest draft of a US-brokered deal that settles a maritime border dispute in a gas-rich part of the Mediterranean Sea.
The accord could pave the way for both countries to ramp up offshore gas production, including Israeli exports to Europe, which is desperate for more supplies after Russia cut flows after invading Ukraine. Israeli Prime Minister Yair Lapid said in a statement that the agreement will “inject billions into Israel’s economy,” while a tweet from the Lebanese president’s office said that it “preserves its rights to its natural wealth.”