Israel rejects Lebanese amendments to draft gas agreement

Despite Hezbolla's threats, the Israeli government is staying the course and asserting its rights to exploit Karish in its territorial waters.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Israel on Thursday rejected Lebanon’s amendments to a draft agreement aimed at delineating the maritime border between the two countries and thus facilitating the exploitation of offshore gas fields, a senior Israeli official said.
“Prime Minister Yair Lapid has been informed of the significant changes Lebanon is seeking to make to the agreement and has asked his negotiating team to reject them,” a senior Israeli official told AFP
requesting anonymity.

Lebanon on Tuesday submitted its response to a U.S. proposal to settle its maritime border dispute with Israel, which should allow the two countries to move forward with the development of large gas fields in the eastern Mediterranean.

Lebanese leaders had met the day before to work out a unified response to the US proposal, the content of which was not made public, and expressed confidence that an agreement would be reached soon, echoing similar optimism in recent days on the part of the Jewish state.

The proposal of the American mediator on the demarcation of the maritime border between Lebanon and Israel “protects” and “strengthens” the interests of the Hebrew state, said Sunday the Israeli Prime Minister Yair Lapid, who, in the midst of the campaign for the parliamentary elections of November 1, is the subject of strong criticism from the opposition, led by Benjamin Netanyahu, on this draft agreement.

The latter, who seeks to return to the head of the Israeli government, accused Mr. Lapid of “giving” a “sovereign territory of Israel” to the Lebanese Hezbollah, sworn enemy of the Hebrew state.

According to Israeli officials, the agreement provides that the offshore Karish field will remain in Israel and the Qana reserves will be granted to Lebanon but that the Hebrew state will receive a portion of the gas revenues.

Israel, which did not detail on Thursday the Lebanese amendments that pose a problem for it, maintains that it will exploit the Karish deposit, even in the absence of an agreement on its maritime border with Lebanon and despite threats in this sense from Hezbollah.

“Israel will produce gas from the Karish field as soon as it is possible to do so. If Hezbollah or anyone else tries to damage Karish or threatens us, negotiations on the maritime border will cease immediately,” the senior Israeli official said, shortly before a meeting of Lapid’s security cabinet on the thorny issue.

Three Russian tankers targeted off the Turkish coast have reignited Ankara’s concerns about oil and gas supply security in the Black Sea and the vulnerability of its subsea infrastructure.
Bucharest authorises an exceptional takeover of Lukoil’s local assets to avoid a supply shock while complying with international sanctions. Three buyers are already in advanced talks.
European governments want to add review and safeguard mechanisms to the trade deal with Washington to prevent a potential surge of US imports from disrupting their industrial base.
The Khor Mor gas field, operated by Pearl Petroleum, was hit by an armed drone, halting production and causing power outages affecting 80% of Kurdistan’s electricity capacity.
Global South Utilities is investing $1 billion in new solar, wind and storage projects to strengthen Yemen's energy capacity and expand its regional influence.
British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.
Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.
Moscow says it wants to increase oil and liquefied natural gas exports to Beijing, while consolidating bilateral cooperation amid US sanctions targeting Russian producers.
The European Investment Bank is mobilising €2bn in financing backed by the European Commission for energy projects in Africa, with a strategic objective rooted in the European Union’s energy diplomacy.
Russia faces a structural decline in energy revenues as strengthened sanctions against Rosneft and Lukoil disrupt trade flows and deepen the federal budget deficit.
Washington imposes new sanctions targeting vessels, shipowners and intermediaries in Asia, increasing the regulatory risk of Iranian oil trade and redefining maritime compliance in the region.
OFAC’s licence for Paks II circumvents sanctions on Rosatom in exchange for US technological involvement, reshaping the balance of interests between Moscow, Budapest and Washington.
Finland, Estonia, Hungary and Czechia are multiplying bilateral initiatives in Africa to capture strategic energy and mining projects under the European Global Gateway programme.
The Brazilian president calls for a voluntary and non-binding energy transition during COP30 in Belém, avoiding direct confrontation with oil-producing countries.
The region attracted only a small share of global capital allocated to renewables in 2024, despite high energy needs and ambitious development goals, according to a report published in November.
The United States approves South Korea’s development of civilian uranium enrichment capabilities and supports a nuclear-powered submarine project, expanding a strategic partnership already linked to a major trade agreement.
The EU member states agree to prioritise a loan mechanism backed by immobilised Russian assets to finance aid to Ukraine, reducing national budgetary impact while ensuring enhanced funding capacity.
The Canadian government commits $56 billion to a new wave of infrastructure projects aimed at expanding energy corridors, accelerating critical mineral extraction and reinforcing strategic capacity.
Berlin strengthens its cooperation with Abuja through funding aimed at supporting Nigeria’s energy diversification and consolidating its renewable infrastructure.
COP30 begins in Belém under uncertainty, as countries fail to agree on key discussion topics, highlighting deep divisions over climate finance and the global energy transition.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.