Lebanon delivers signed sea border deal to U.S. mediator

Oct 27, 2022

Lebanon has signed and delivered its copy of a U.S.-mediated sea border deal with Israel to an American mediator, and Israel was expected to sign off

BEIRUT (AP) — Lebanon signed and delivered its copy of a U.S.-mediated sea border deal with Israel on Thursday to a U.S. mediator, hoping to soon start exploring gas in its southern maritime blocs to bring economic stability to the crisis-ridden country.

The agreement to demarcate the maritime border comes after months of indirect talks mediated by Amos Hochstein, the U.S. envoy for energy affairs, and would mark a major breakthrough in relations between the two nations, which have formally been at war since Israel’s creation in 1948.

Lebanon and Israel both claim around 860 square kilometers (330 square miles) of the Mediterranean Sea that are home to offshore gas fields. Lebanon hopes that demarcating maritime borders will pave the way for gas exploration to help lift it out of its crippling economic crisis, which has plunged three-quarters of its population into poverty. Israel hopes that the deal will reduce the risk of war with Lebanon’s Iran-backed militant group Hezbollah.

“This agreement was written with the idea in mind that it was between two countries that don’t have diplomatic relations,” Hochstein told reporters at the Baabda Presidential Palace. “I think the good will and good faith efforts by all parties is what’s going to make this move forward.”

Hochstein spoke after meeting with President Michel Aoun and senior officials and receiving Lebanon’s signed agreement. He is scheduled to meet with Speaker Nabih Berri before heading to the United Nations Interim Force In Lebanon headquarters in Naqoura by the southern border, where an Israeli and Lebanese delegation will separately deliver signed agreements and their finalized coordinates to the U.N., before Hochstein meets with Israeli Prime Minister Yair Lapid.

Meanwhile, Lapid has signed the agreement. According to a statement from his office, a delegation led by the Energy Ministry's director general is on its way to the signing ceremony in Naqoura at the border.

“There is a rare consensus in all security systems on the importance of the agreement," Lapid said. The Israeli Cabinet approved the deal in a special session. “This is also an economic achievement. Yesterday, gas production began from the Karish Platform.”

Tensions briefly flared between Lebanon and Israel last summer, after Israel began drilling in the Karish gas field as negotiations took place. Prior to the agreement, Lebanon considered the area to be disputed, while Israel said it was part of its U.N.-recognized exclusive economic zone.

It was not immediately clear when drilling will begin, but cash-strapped Lebanon is hoping French oil giant Total will start soon after the agreement is signed and delivered by both parties.

Under the agreement, the disputed waters would be divided along a line straddling the “Qana” natural gas field. Gas production would be based on the Lebanese side, but Israel would be compensated for gas extracted from its side of the line.

President Aoun earlier this month in a televised address announced Lebanon's approval of the sea border deal. The Israeli Supreme Court rejected four legal challenges against the deal, after its government also approved the plan.

In 2017, Lebanon approved licenses for an international consortium including France’s Total, Italy’s ENI and Russia’s Novatek to move forward with offshore oil and gas development for two of 10 blocks in the Mediterranean Sea. Novatek recently withdrew and officials, including Energy Minister Walid Fayad, have said that Qatar is interested in filling that gap.

“I truly believe and hope this can be an economic turning point in Lebanon for a new era of investment and continued support to lift up the economy,” Hochstein said.

Lebanon has since reached out to Syria and Cyprus to start direct negotiations over their northern and western maritime borders as well.

More News

U.S. Budget Deficit Nears $2 Trillion, a Reality Check for Trump’s Cost Cutting
Oct 16, 2026
U.S. Budget Deficit Nears $2 Trillion, a Reality Check for Trump’s Cost Cutting

Higher interest rates are inflating borrowing costs as the Trump administration spends on the Iran war and tariff refunds.

Indonesian Stocks Plunge as MSCI Threatens to Drop Market from Indexes
Oct 16, 2026
Indonesian Stocks Plunge as MSCI Threatens to Drop Market from Indexes

The potential downgrade by MSCI, an influential index provider, adds to a deepening crisis of investor confidence in the economic policies of President Prabowo Subianto.

Warsh Vows to Tame Inflation as A.I. Delivers ‘Shock’ to Economy
Oct 16, 2026
Warsh Vows to Tame Inflation as A.I. Delivers ‘Shock’ to Economy

The Federal Reserve chairman stuck to his pledge to avoid providing guidance about the path forward for interest rates, but did nothing to convey an urgency to raise them later this month.

Watch: Did Tesla really just unveil a flying car?
Oct 16, 2026
Watch: Did Tesla really just unveil a flying car?

Tesla CEO Elon Musk showcased the vehicle at a facility owned by his SpaceX company, which helped develop the model.

When Will the Fed Move on Rates?
Oct 16, 2026
When Will the Fed Move on Rates?

Kevin Warsh, the central bank’s chairman, suggested he wouldn’t push to raise borrowing rates this month. But persistent inflation may force the Fed’s hand.

Banks expect to be hit with higher taxes in Budget
Oct 16, 2026
Banks expect to be hit with higher taxes in Budget

Senior banking executives have told the BBC they expect to be "on the menu" in the chancellor's Budget tax later this month.

Feel Like You’re Overpaying for Hotels? Blame Expedia, a New Lawsuit Says.
Oct 16, 2026
Feel Like You’re Overpaying for Hotels? Blame Expedia, a New Lawsuit Says.

The booking giant is accused of breaking federal antitrust laws and forcing millions of customers to overspend on stays by as much as 30 percent.

Tesla Debuts 2026 Roadster ‘Flying’ Electric Sports Car
Oct 16, 2026
Tesla Debuts 2026 Roadster ‘Flying’ Electric Sports Car

Elon Musk’s company and other automakers, like Jaguar and Bentley, are trying to sell very expensive electric cars to people who usually prefer gasoline-fueled luxury and performance.

Trump Hasn’t Lowered Drug Prices for These Voters
Oct 16, 2026
Trump Hasn’t Lowered Drug Prices for These Voters

President Trump has been promoting his efforts to reduce drug prices, but many Americans have not seen relief from rising costs for prescriptions and insurance premiums.

Fuel costs squeezing margins for some businesses
Oct 16, 2026
Fuel costs squeezing margins for some businesses

Diesel recently topped £2 per litre and there is concern that a duty freeze will not go far enough.

Why Bad News in the Bond Market May Be Good News for Investors
Oct 16, 2026
Why Bad News in the Bond Market May Be Good News for Investors

In the contrarian logic of investing, rising interest rates have made bonds much more attractive, our columnist says.

'TV and cheap booze' blamed for landlord quitting
Oct 16, 2026
'TV and cheap booze' blamed for landlord quitting

Lincolnshire has lost 27% of its pubs and bars since 2009 and some are calling on the government to act against cheap supermarket booze.

Manage The Numbers

Manage The Numbers is the world’s fastest-growing finance news website, featuring the latest money and market news, along with in-depth analysis so you can make the best decision.

Newsletter