Israel and Lebanon reach historic agreement to resolve a long-running maritime border dispute

October 11, 2022

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Israel and Lebanon reached a historic agreement to resolve a long-running maritime border dispute on Tuesday, following months of negotiations mediated by the United States.

The breakthrough between the two longtime adversaries — who are still technically at war — will enable both countries to develop the offshore gas fields in their waters and ramp up gas production, exports of which could be vital for Europe at a time when it is desperately seeking new sources.

While it has yet to be formally ratified, both parties have expressed their satisfaction with the terms of the deal.

“This is a historic achievement that will strengthen Israel’s security, inject billions into Israel’s economy, and ensure the stability of our northern border,” Israel’s Prime Minister Yair Lapid said in a statement.

He added that the “unprecedented deal” will strengthen Israel’s security and deliver more affordable energy to countries around the world.

His comments came after Lebanon received the final draft of the U.S.-brokered agreement with Israel.

Lebanese President Michel Aoun said that the terms of the latest draft satisfied Lebanon, and expressed hope in a post from his official Twitter account that the deal would be announced soon.

The Israeli president also thanked U.S. special envoy Amos Hochstein for his “hard work” in mediating the agreement.