Israel And Lebanon May Resolve Their Dipsute Over Oil And Gas Deposits In The Mediterranean

Lebanon, Israel Take Step Toward Claiming Big Oil, Gas Deposits -- Christian Science Monitor

Lebanon and Israel dispute their maritime boundary in the eastern Mediterranean, which contains some 8.5 percent of the world's oil and gas under the seabed.

The United States has proposed a boundary between Lebanon and Israel's maritime economic zones to help end a lingering dispute over rival claims and open up oil and gas exploration in the eastern Mediterranean.

If the idea is accepted by both sides, it will reduce the risk of renewed conflict between the two enemy states and hasten Lebanon’s efforts to begin tapping the billions of dollars of natural gas estimated to be lying beneath the seabed.

The proposal, which was submitted to both countries recently, is a compromise on the overlapping exclusive economic zone (EEZ) boundaries individually submitted by Lebanon and Israel, which left 330 square miles in dispute.

Read more ....

My Comment: I will be surprise if Lebanon agrees to this border. Hezbollah is a major player in the government .... and they have made it very clear over the years that they do not even recognize the state of Israel. But by agreeing to this proposed border with Israel .... they will then be tacitly agreeing that the state of Israel does exist.