Israel-Lebanon Maritime Border Deal
Source: Hindu
GS II: International Relation
What is discussed under Israel-Lebanon Maritime Border Deal?
- About the Maritime Border Deal
Why in News?
- Israel and Lebanon inked a historic deal on Thursday that established their borders in the Mediterranean Sea.
- Although there has officially been conflicting between these two nations for many years, this maritime boundary delineation agreement will allow both countries to make revenue by exporting natural gas from their own gas resources.
About the Deal
- There are two gas fields in the Mediterranean Sea bordering Israel and Lebanon.
Image by wirestock on Freepik - Karish and Qana are gas fields that the countries are looking to exploit to extract gas for their domestic use and export.
- Between the exclusive economic zones (EEZ) of the two nations, a border known as Line 23 has been established.
- The agreement accepts Lebanon’s claim to the Qana, a potential gas resource while granting Israel free access to the offshore Karish field.
- As Israel was granted 840 square kilometres of the previously contested territory, some of the money they make from Qana will be transferred to Israel because portions of it are located in Israeli territorial waters.
Significance
- This agreement has broad consequences.
- Hezbollah, which is sponsored by Israel’s bitter enemy Iran, declared that after the agreement was reached about the maritime border with Lebanon, it will cease its ‘exceptional’ mobilisation against Israel.
- It somewhat ends the dispute between Israel and Lebanon over natural gas deposits in the eastern Mediterranean Sea, as Hezbollah had previously warned Israel that it had missiles trained on the Karish gas field.
Daily Current Affairs: Click Here