The Karish gas field, located in the Eastern Mediterranean, is part of the Israeli–Lebanese maritime border dispute that has been ongoing since 2010. Both countries claimed the gas field to be part of their maritime territories. Lapid announced on Monday that Israel will sign a historic agreement with Lebanon to demarcate the maritime border on October 26, under which Israel will maintain control over the gas field.
"As we said throughout this process, gas production from the Karish platform would begin as planned the moment the technical conditions for production," Lapid said, adding that natural gas extraction from this field enhances the energy stability of Israel and helps to cope with the global energy crisis.
The Israeli prime minister noted that natural gas at the Karish field will reduce energy prices in the country and strengthen competition in the market.
The negotiations on the demarcation of land and maritime borders between Lebanon and Israel have been taking place in the Lebanese city of Naqoura since 1996 on the basis of a memorandum of understanding under the UN auspices and the US mediation. In June 2022, Israel urged the Lebanese authorities to speed up the talks. The draft agreement settles claims to gas reserves in disputed waters.