May 11, 2021
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Lebanon and Israel talks resume over disputed maritime border | Business and Economy News

Lebanon and Israel are resuming US-mediated talks concerning a dispute over their Mediterranean Sea border that has held up hydrocarbon exploration within the probably gas-rich space.

The talks, between international locations nonetheless technically at struggle, kicked off on the UN base within the city of Naqura in southern Lebanon, the Nationwide Information Company reported on Tuesday.

Lebanon and Israel took half in oblique talks to debate demarcation final yr. However they stalled after Lebanon demanded a bigger space, together with a part of the Karish gasoline discipline, the place Israel has given exploration rights to a Greek agency.

The talks final yr have been supposed to debate a Lebanese demand for 860sq km (330 sq. miles) of territory within the disputed maritime space, in response to a map despatched to the United Nations in 2011.

Nevertheless, Lebanon then mentioned the map was based mostly on faulty calculations and demanded 1,430sq km (552 sq. miles) extra additional south, together with a part of Karish.

“The dialogue will begin from the place we left it off,” a supply on the Lebanese presidency advised AFP information company on Tuesday. He mentioned each Israel and Lebanon demanded a distinct demarcation line.

“We don’t settle for the road they’ve proposed, they usually don’t settle for ours, so we’ll see what the mediator suggests.”

Final month, Lebanese President Aoun demanded Israel halt all exploration in Karish till the dispute was settled [File: Reuters]

Final month, Lebanese President Michel Aoun demanded Israel halt all exploration in Karish till the dispute was settled.

In February 2018, Lebanon signed its first contract for offshore drilling for oil and gasoline in Blocks four and 9, with a consortium comprising power giants Complete, ENI and Novatek.

Lebanon in April mentioned preliminary drilling in Block four had proven traces of gasoline however no commercially viable reserves.

Washington mentioned on Friday the discussions could be brokered by US diplomat John Desrocher, and known as the resumption of talks “a optimistic step in direction of a long-awaited decision”.

Desrocher arrived in Beirut on Monday night time to participate within the talks, in response to The Related Press information company.

Lebanese politicians hope that commercially viable hydrocarbon assets off Lebanon’s coast may assist carry the debt-ridden nation out of its worst financial disaster in many years.

However Lebanon’s authorities stepped down after a massive blast at Beirut’s port in August 2020, and deeply divided politicians have been unable to type a brand new cupboard ever since.

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