Israel and Lebanon have brokered a historic agreement to resolve a long-running maritime border dispute on Tuesday, following months of negotiations mediated by the United States.
“This is a historic achievement that will strengthen Israel’s security, inject billions into Israel’s economy, and ensure the stability of our northern border,” Israel’s Prime Minister Yair Lapid said in a statement.
He added that the “unprecedented deal” will strengthen Israel’s security and deliver more affordable energy to countries around the world.
His comments came after Lebanon received the final draft of the U.S.-brokered agreement with Israel.
Lebanese President Michel Aoun said that the terms of the latest draft satisfied Lebanon, and expressed hopes that the deal would be announced soon, according to Reuters.
Israel and Lebanon have been at war for decades since 1948, with both countries staking claim over a swathe of territory in the Mediterranean Sea, which contains part of the Karish gas field and Qana, a prospective gas field.
Negotiations pertaining to the Israeli-Lebanese border dispute over gas-rich waters off the countries’ Mediterranean coasts have been ongoing since October 2020.
The Israel president also thanked U.S. special envoy Amos Hochstein for his “hard work” in mediating the agreement.