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Israel strengthens as a gas supplier thanks to the Karish reserve, predicts Lapid

Acting Prime Minister Israeli, Yair Lapidvisited this Sunday the new Karish platform, in Mediterranean waters, where the gas extraction process began, after the country signed a historic agreement three days ago with the Lebanon that demarcates its maritime borders.

”This place is the energy and economic future of the State of Israel”, Lapid said as he toured the infrastructure. As he added, the gas production of Karish “will reduce energy prices in Israel” and will convert the country “at a regional provider” that can “help Europe face its energy crisis”.

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A few days before the signing of the pact with Lebanon, Israel gave its final approval for the multinational company Energean to start extracting gas from this platform, a process that began this week and that makes Karish the third infrastructure since the that Israel obtains this resource in Mediterranean waters.

Months earlier, Karish was in the middle of disputes with Lebanon, after the Lebanese Shiite group Hezbollah – Israel’s great enemy in the Arab country – launched drones towards the platform in June and also threatened an escalation if the Jewish state extracted gas. .

The reservation is in the maritime area that Israel and Lebanon have disputed for years and, based on the agreement that both countries reached, it is definitely on the Israeli side.

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The pact between Israel and Lebanon – which have no official diplomatic relations and are still technically at war – became effective after months of indirect negotiations mediated by the United States.

The maritime zone that has finally been demarcated consists of about 860 square kilometers of sea, which covered not only the Karish deposit, but also another called Qana, which has remained mostly on the Lebanese side. This reserve may be exploited by Lebanon and Israel will receive financial compensation for it.

Source: EFE

Source: Elcomercio

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