After intense negotiations mediated by the United States,

A “historic” agreement between Lebanon and Israel to demarcate the maritime borders

A vehicle belonging to the United Nations peacekeeping force (UNIFIL) drives near the Lebanese-Israeli border.

Reuters

Yesterday, Israel said that it had reached a "historic" agreement with Lebanon to demarcate their maritime borders and remove the main obstacles to exploiting gas fields in the eastern Mediterranean, after intense negotiations brokered by the United States.

For two years, the United States mediated between the two countries, which Israeli Prime Minister Yair Lapid said yesterday, "reached a historic agreement."

Lapid added in a statement that "this historic agreement will enhance Israel's security, inject billions into the Israeli economy and ensure the stability of our northern borders," noting that a security cabinet meeting is scheduled for today about it.

For its part, the Lebanese presidency said in a statement that it "is considered the final version.

satisfactory to Lebanon, especially as it meets the Lebanese demands,” and “preserved Lebanon’s rights to its natural wealth.”

The maritime border demarcation agreement comes before the end of President Michel Aoun's term of office on October 31.

"We reached (yesterday) a solution that satisfies both parties," said Deputy Speaker of Parliament Elias Abu Saab, who is assigned by the Lebanese presidency to follow up on the file.

Lebanon has obtained its full rights and all its comments have been taken into consideration.

Israeli Defense Minister Benny Gantz praised the position of the Lebanese presidency for its support of the text, which he described as "positive for both sides."

Gantz criticized Hezbollah, saying that the party "tried to undermine the negotiating process" with his threats.

Negotiations between the two countries, still officially at war, have suffered repeated setbacks since their launch in 2020, but have gained momentum in recent weeks as both sides look to generate revenues from potentially wealthy gas fields in the Mediterranean.

The US envoy, Amos Hochstein, put forward a final version earlier this month, which Israel accepted, but Lebanon requested some amendments.

Israel said last week that it intended to reject the changes requested by Lebanon, even if that meant that it was impossible to reach an agreement, but negotiations continued, culminating when the two sides talked about acceptable final terms.

The main point of contention in the talks was the Karish gas field, which Israel insisted is located entirely in its waters and was not a subject for negotiations.

It was reported that Lebanon demanded part of the field, while Hezbollah threatened to launch attacks if Israel started production from Karish.

Israel said production will start from Karish as soon as possible, regardless of what Lebanon requests.

The formula presented by the American mediator and leaked to the press stipulated that the Karish field would be completely subject to Israeli control in exchange for granting the Qana field to Lebanon, noting that part of it exceeds the demarcation line separating the two countries' waters.

The French company Total will obtain a license to search for gas in the Qana field, with Israel receiving a share of future revenues.

However, since part of the Qana field exceeds the demarcation line separating the waters of the two countries, Israel will receive a share of the income that Lebanon will achieve in the future from the exploitation of the gas company Total Energy in Qana, according to Israeli press reports.

But Abu Saab said, “There is an understanding between Total and the Israelis.

According to the agreement, Israel can receive compensation from Total's profits, not from Lebanon.

"All our demands have been met, and the amendments we have requested have been accepted," Israel's National Security Agency chief Eyal Holata said in an Arabic-language statement on the progress of the negotiations.

We have preserved Israel’s security interests.”

The Lebanese presidency said that it "considers the final formula that meets the Lebanese demands."

Follow our latest local and sports news and the latest political and economic developments via Google news