ASSESSMENTS

Lebanon and Israel Ink a Historic Deal on Disputed Offshore Gas Reserves

Oct 17, 2022 | 21:47 GMT

The platform in the Leviathan natural gas field in the Mediterranean Sea is pictured through an arcade in the Israeli northern coastal city of Caesarea on Feb. 24, 2022.

The platform in the Leviathan natural gas field in the Mediterranean Sea is pictured through an arcade in the Israeli northern coastal city of Caesarea on Feb. 24, 2022.

(JACK GUEZ/AFP via Getty Images)

A Lebanese-Israeli maritime deal will ease tensions caused by the natural gas fields off the Levantine coast, pave the way for Lebanese energy extraction and increase calls in Lebanon for deeper economic ties with Israel. On Oct. 11, Israeli Prime Minister Yair Lapid and Lebanese President Michel Aoun announced they had signed a U.S.-mediated deal on divvying up energy resources in disputed waters in the Eastern Mediterranean. The agreement grants Israel exclusive control over the disputed Karish gas field, which is estimated to have 1.75 trillion cubic feet (tcf) of reserves. In exchange, Lebanon will be able to develop the Qana gas field on the basis that Israel is still compensated for resources extracted in nominally Israeli waters. The same day the agreement was announced, Hezbollah -- the Iran-backed Lebanese political party and militant group who had initially staunchly opposed ceding the Karish field over to Israel -- signaled it...

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