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Lebanon and Cyprus finalized a maritime border deal in the eastern Mediterranean, enabling potential oil and gas exploration.
Lebanon and Cyprus have signed a maritime border agreement, finalizing offshore boundaries in the eastern Mediterranean after nearly two decades of delays.
The deal, signed by Presidents Joseph Aoun and Nikos Christodoulides, unlocks potential for oil and gas exploration and supports Europe’s energy diversification efforts.
It follows Lebanon’s 2022 U.S.-mediated agreement with Israel and comes amid regional instability, including ongoing Israeli strikes in southern Lebanon.
While Lebanon hopes offshore resources can aid its struggling economy, no commercially viable energy finds have yet been made.
Syria remains the only neighboring country with which Lebanon has not defined its maritime boundary.
El Líbano y Chipre finalizaron un acuerdo de frontera marítima en el Mediterráneo oriental, lo que permite la potencial exploración de petróleo y gas.