A draft seen by Reuters on Wednesday said the US-brokered deal to demarcate the maritime border between Lebanon and Israel aims to “achieve a lasting and equitable solution” to the long-standing conflict.
“This Agreement will enter into force on the date the US government sends a notice confirming each party’s agreement to the provisions of this Agreement,” the draft reads.
The day Washington sends this notification, Lebanon and Israel will simultaneously send identical coordinates to the United Nations defining the location of the maritime border.
According to the text of the agreement, the two sides recognize Israel’s security line in front of the Rosh Hanikra settlement.
The Israeli Navy off the Rosh Hanikra settlement
The agreement notes that Lebanon and Israel could renegotiate the maritime borders between them if negotiations take place on the land borders separating the two countries, which have not been addressed.
Under one of the terms of the agreement, 17% of the gas profits that are generated will be returned It will be taken out of the tank Sidon in Israel.
This comes after officials said Tuesday that Lebanon and Israel have reached a historic agreement to demarcate a disputed maritime border, after years of US-mediated negotiations.
Although the deal is limited in scope, it would represent a major deal between the two countries, two enemies with a long history of conflict, paving the way for offshore energy exploration and easing a source of new tensions between the two countries.
The deal aims to resolve a border dispute in the eastern Mediterranean, in an area where Lebanon hopes to explore natural gas. Israel is already mining Natural gas from nearby fields.
A drill ship operating for Israel in the Karish field in the Mediterranean
The agreement marks the first time the border between Lebanese and Israeli waters and also establishes a mechanism for both countries to receive revenue from Total Energy’s exploration of an offshore gas field that extends beyond the border.
The agreement does not affect the land borders between the two countries. Where Israel and Hezbollah clashed frequently in recent decades.
Although Lebanon, Israel and the United States have praised the conclusion of the talks, the deal itself has yet to receive final approval in Israel or Lebanon.
