• 1440 Daily Digest

Mediterranean Maritime Deal

Israel and Lebanon have reached a deal potentially ending a yearslong maritime border dispute that would allow access for both countries to gas fields in the eastern Mediterranean. The US-brokered agreement marks a major compromise between the countries, who are historically enemies. A key point of contention was the Qana natural gas field, which both countries claimed fell within their respective economic waters (read more). The deal reportedly charts a path for both countries to profit from the gas field by clarifying the lines of exclusive economic zones. Lebanon will reportedly be allowed to produce gas from the Qana field but will compensate Israel for any gas extracted from the Israeli zone. Lebanon has also renounced any claims to the nearby Karish field. The deal would provide a source of income to Lebanon’s struggling economy while lowering tensions between Israel and the Lebanon-based Hezbollah. The agreement must now be ratified by lawmakers in both countries.

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