Lebanon and Israel have reached a historic agreement demarcating a disputed maritime border between the two countries, Prime Minister Yair Lapid said on Tuesday.
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While limited in scope, a deal would mark a significant compromise between states with a history of war, paving the way for offshore energy exploration and easing a source of recent tensions.
"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," Lapid said in a statement.
Lebanese President Michel said earlier that the terms of the final draft received from US envoy Amos Hochstein satisfied Beirut and he hoped the deal would be announced as soon as possible, the presidency said in a statement.
Israeli National Security Advisor Eyal Hulata earlier also gave a positive assessment:
"All our demands were met, the changes that we asked for were corrected. We protected Israel's security interests and are on our way to a historic agreement," he said in a statement.
Hezbollah is yet to comment on the details of the proposal but has said that it would agree to the Lebanese government's position.
Secretary-General Sayyed Hassan Nasrallah has also repeatedly warned of an escalation if the deal does not secure Lebanon's maritime rights. He is due to make an address later on Tuesday.
Earlier, Lebanese negotiator Elias Bou Saab told Reuters that if everything went well, Hochstein's "efforts could imminently lead to a historic deal". He said the latest draft "took into consideration" all of Beirut's requirements "and we believe the other side should feel the same."
While Israel has moved ahead with production and export, Lebanon's efforts have been hamstrung by political dysfunction.
A gas find would be a major boon for Lebanon, which has been mired in a financial crisis since 2019. Eventually, such a discovery could fix Lebanon's long-standing failure to produce adequate electricity for its population.
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