In this photo released by Lebanon s official government photographer Dalati Nohra, Lebanese Prime Minister Najib Makati, right, receives the final draft of the maritime border agreement between Lebanon and Israel from his deputy Elias Bou Saab who leads the Lebanese negotiating team, in Beirut, Lebanon, Tuesday, Oct. 11, 2022. AP)
The US-brokered deal was signed on Tuesday, establishing for the first time a permanent maritime border between them, opening the way for energy exploration, easing a source of recent tensions in an area in the Eastern Mediterranean.
In an official statement on Wednesday, the Egyptian foreign ministry said it hopes that the step will enable Lebanon to benefit from its resources to improve economic conditions and strengthen cooperation in the Mediterranean region.
Egypt also expressed its unwavering support for the stability and sovereignty of Lebanon to meet the aspirations of the Lebanese people.
The deal would allow the neighbours, who formally remain at war, to exploit natural gas fields in the Mediterranean Sea.
Following the signing, Israel's Prime Minister Yair Lapid said the deal would strengthen his country’s security and inject billions into its economy, while Lebanese President Michel Aoun described the terms as "satisfactory."
In June 2022, Lebanon signed an agreement with Egypt to import natural gas from the North African country via Syria to boost the power supply in Beirut. The step aimed to help alleviate Lebanon’s longtime crippling electricity problem amid the country's worst-ever financial crisis.
The Egyptian gas is expected to activate gas-operated power plants that have been non-functional for 11 years.