New Israeli Gas Contract Threatens Territorial Dispute Resolution - Lebanese President

BEIRUT (UrduPoint News / Sputnik - 22nd September, 2021) The signing of an agreement between Israel and US company Halliburton on oil and gas production in the territories disputed by Lebanon runs counter to negotiations on the demarcation of maritime boundaries between Beirut and Tel Aviv, Lebanese President Michel Aoun said on Wednesday.

"The signing of an agreement by Israel with one of the American oil and gas companies contradicts indirect negotiations," the president said on Facebook.

The Lebanese leader also noted that Beirut adheres to the UN Security Council Resolution 1701 of 2006 and is ready to defend its rights.

"We look forward to the resumption of indirect negotiations on the demarcation of maritime boundaries," Aoun added.

Israel and Lebanon began US-mediated negotiations concerning their maritime border in 2020, although talks hit a bump earlier this year when Lebanon increased its demands with a line extending much further south than their original claim, increasing the disputed area from 332 square miles to 880 square miles, which would include at least part of the Karish North field.

Lebanon and Israel are at odds over the delineation of their territorial waters in the Mediterranean, and negotiations between them could lead to Lebanon being able to unlock valuable gas reserves during its worst financial crisis.

Negotiations on the demarcation of a land and sea border between Lebanon and Israel have been going on in An-Naqura settlement in southern Lebanon since 1996 on the basis of a Memorandum of Understanding under the auspices of the United Nations, and mediated by the United States.