Israel and Lebanon sign agreement on the maritime boundaries
Described by those present as the beginning of a “new era,” the Israeli and Lebanese delegations today signed an agreement on the maritime boundaries between the two countries at UN Interim Forces in Lebanon (UNIFIL) headquarters in Naquora. The agreement concerns the Karish gas field, which will be Israel’s third gas field connected to the grid after Tamar and Leviathan.
According to the article in the Jerusalem Post, the details of the agreement allows Lebanon, through its licensee, French energy company TotalEnergies, to develop the Kana Reservoir and extract natural gas that may be there. The gas field was in an area of the Mediterranean Sea that Israel and Lebanon claimed as their own; Israel conceded the entire disputed zone but will receive 17% of the value of Kana once Total has done a thorough survey of how much gas is in the reservoir.
French company TotalEnergies is speeding up preparations for exploratory drilling in the Sidon-Qana gas field, following the Israel-Lebanon maritime border agreement, while Israel’s Ministry of National Infrastructures, Energy and Water Resources has granted permission for Greek-UK energy exploration and production company Energean plc to begin producing natural gas from the Karish offshore field.
The new connection strengthens Israel as a major supplier of natural gas and will allow it to increase natural gas exports to Egypt and Jordan, and from there to other countries in Europe needing other gas sources due to the global energy crisis. On the eve of COP27, this step helps Israel and countries like Egypt and Jordan reduce use of polluting fuels like coal and oil, and dramatically cuts air pollution.
