Lebanon-Israel maritime border deal make ‘major progress’

Beirut: The border demarcation negotiations between Lebanon and Israel have made progress, and only a few technical details remain to be solved, said Lebanese President Michel Aoun.

“The results that Lebanon has achieved in negotiations will enable it to invest its oil and gas wealth. We are currently studying some technical details to solve them in a way that would serve the interest of Lebanon, its rights and sovereignty,” Aoun was quoted as saying in a statement on Wednesday released by Lebanon’s Presidency.

The President added that completing the negotiations will enable Lebanon to launch the oil and gas exploration process in the Exclusive Economic Zone, Xinhua news agency reported.

“This will be a positive step for the Lebanese economy which will start emerging from its crisis,” he said.

Lebanese authorities are trying to end a dispute with Israel over maritime borders, which has escalated after Israel on June 5 sent a vessel to the Karish field, which Israel claims is within its economic zone, while Lebanon claims it is in disputed waters.

Israel previously announced that it plans to extract gas from the disputed area as early as September, prompting Hezbollah to threaten attacks if Israel proceeds without first resolving the maritime border dispute with Lebanon.