Under the reported emerging deal, Israel’s Karish oil field, which was erected in June in an area near the border that Lebanon claims is disputed, will remain under full Israeli control, while gas produced at the nearby Qana oil field will expressly go to Lebanon. The Greek-French company Energean Oil & Gas PLC, which is currently responsible for the production of natural gas from the Karish field, will also be responsible for the operation of the Qana field, the sources said. The sources also said that Israel will receive financial compensation from Energean for its profits from the Qana field, in light of Israel’s claims to ownership of parts of that field. The sources cited by Al Arabiya, described as officials involved in the negotiations, portrayed Israel’s willingness to relinquish control of the Qana field as a concession that “came as a result” of Hezbollah’s recent threats on the issue. Get The Times of Israel Daily Edition by email and never miss our top stories By signing up, you agree to the terms With gas extraction at the Karish field expected to begin in October, the sources did not rule out additional provocations or attacks by the Iranian-backed Lebanese terror group before then, suggesting the group may seek additional Israeli concessions. In addition, Lebanon’s presidential palace said on Sunday that the US official mediating the negotiations, Amos Hochstein, would arrive in Beirut later this week, according to a statement cited by Reuters. Israel has sought to develop the Karish gas field as it seeks to position itself as a gas supplier to Europe. In June, Israel, Egypt and the European Union signed a memorandum of understanding in Cairo that will see Israel export its natural gas to the bloc for the first time. Energean’s floating production system (FPSO) at the Karish gas field in the Mediterranean Sea. (Energean) The dispute over the Israel-Lebanon maritime border has been ongoing for over a decade. In 2012, Lebanon rejected a US proposal to receive 550 square kilometers (212 sq mi), or nearly two-thirds of the area, while Israel would have received the remaining third. The disputed area – a total of 860 square kilometers (330 square miles) of the Mediterranean Sea – covers both the Karish gas fields and the Qana fields. After years of stagnation, Israel and Lebanon entered US-brokered talks in 2020 with the aim of resolving the dispute. Hochstein said last month he was “optimistic” about the deal, and Lebanon’s foreign minister said he was more optimistic than ever about reaching a deal. Al Arabiya’s report cited White House officials as saying that resolving the dispute is a “priority” for US President Joe Biden’s administration. US Senior Energy Security Adviser Amos Hochstein meets with Lebanon’s Acting Energy Minister Walid Fayad in Beirut on July 31, 2022. (Anwar Amro/AFP) Israel, meanwhile, has increased security around the Karish field in recent weeks as Hezbollah leader Hassan Nasrallah has repeatedly threatened to target Israeli offshore facilities. In early July, Hezbollah sent several drones into Israel’s Karish gas field, which were shot down by the Israeli military. And last month, Nasrallah warned that “any hand” that reaches out to steal Lebanon’s wealth “will be cut off.” The Israel Defense Forces said on Sunday it would hold a three-day military exercise along the Lebanese border in light of recent tensions. You are a devoted reader We are really glad that you read X Times of Israel articles last month. That’s why we started the Times of Israel ten years ago – to provide discerning readers like you with the must-read coverage of Israel and the Jewish world. So now we have a request. Unlike other media, we have not set up a paywall. But because the journalism we do is expensive, we invite readers to whom The Times of Israel has become important to help support our work by joining The Times of Israel Community. For just $6 a month you can support our quality journalism by enjoying Times of Israel ADS-FREE, as well as access to exclusive content available only to members of the Times of Israel Community. Thank you, David Horowitz, founding editor of the Times of Israel Join our community Join our community Already a member? Sign in to stop seeing this
