What are the implications of the recent Israel-Lebanon maritime agreement for the situation in West Asia? What are its implications for the European energy crisis?

The recent Israel-Lebanon maritime agreement may offer good hopes for the Europe, which is undergoing economic, energy and conflict crisis due to the Russia-Ukraine war.

The historic deal between the two bitter neighbours, that technically remain on war, has been brockered by the US.

Implications of the deal on west Asia:

• It will pave the way for offshore gas extraction in the Karish and Qana gas fields in the Mediterranean.
• The agreement represents a breakthrough and will result in easing out of tensions between Israel and Lebanon.
• It will create new source of income and energy for both the countries.
• The deal has a great scope for reducing conflicts in west Asia.

Implications of the deal on European energy crisis:

• It can act as an alternative source of gas for Europe and will reduce Europe’s dependence on Russia for gas. However, it will take several years.

Way forward:

There are several challenges that remain, especially related to royalty shares between the two countries. However, amid the Ukraine crisis and economics of natural gas, this step will ease out troubled geopolitics in West Asia and acts as a ray of hope for Europe.