A landmark deal. Lebanon and Israel have clarified their maritime border and can start extracting gas

According to Lebanese negotiator Ilyas Bou Saab, the agreement represents the beginning of a “new era”. The letter will be handed over to American officials on Thursday at the southernmost part of the Lebanese border in the city of Nakura. Israeli Prime Minister Yair Lapid signed the historic agreement in Jerusalem after the approval of the government.

The American diplomat Amos Hochstein was the mediator of the complex negotiations. According to the AP, the agreement is considered a major breakthrough in relations between Israel and Lebanon, which are technically at war.

Asked what would happen if one side or the other violated the agreement, Hochstein said the United States would remain the guarantor to help resolve any disputes. “If one side breaks the deal, both sides lose,” Hochstein added.

Impoverished Lebanon, wracked by an economic crisis, hopes a clearly marked maritime border will allow it to begin exploration for gas deposits.

“I hope these negotiations are a promising start to the economic growth that oil and gas production will enable. It will bring the stability, security and development that Lebanon needs,” the Lebanese president said earlier, adding that the agreement does not mean the normalization of relations with Israel.

Thanks to the agreement, Israel will also be able to explore gas deposits, which also considers the agreement a means of reducing the risk of another war with the Lebanese Shiite movement Hezbollah.