The leader of the Greek Cypriot Administration of Southern Cyprus (GCASC), Nikos Christodoulides, met with Lebanese President Michel Aoun in Beirut, the capital of Lebanon. Within the scope of the contacts between the two leaders, a maritime borders agreement was signed, resolving an approximately 20-year-old deadlock regarding the extraction of oil and natural gas in the Eastern Mediterranean. In a joint press statement with Christodoulides, Aoun stated that within the framework of the agreement, both sides can conduct natural resource exploration activities in open waters and that bilateral cooperation will be strengthened. Aoun also conveyed that joint ventures could be undertaken in areas such as telecommunications, tourism, and security projects in the future.
Christodoulides uses the phrase “historic agreement”
Christodoulides also evaluated the agreement as a “strategic gain,” conveying that it could open the door to new opportunities for the two countries in the future and that regional cooperation in the energy field could be strengthened. Christodoulides stated, “This historic maritime borders agreement increases the possibility of the Middle East becoming an alternative energy corridor for Europe.” The Greek Cypriot leader also stated that he welcomed the talks regarding the electricity interconnection between the two countries, announcing that they will seek the World Bank’s support next week for the Bank’s feasibility studies.
Previously reached decision could not be ratified
Lebanon and the GCASC had long been striving to formalize maritime borders to secure exclusive economic zone rights in the Eastern Mediterranean, a significant region for natural resource exploration. The two countries had reached a preliminary agreement on their offshore borders in 2007; however, the ratification of the decision in the Lebanese parliament was delayed due to internal divisions in the country’s politics and disputes over maritime areas. Previous attempts by the parties had failed due to regional disputes and overlapping regional claims. However, with renewed diplomatic approaches, it became possible to reach a mutually agreed-upon agreement on determining the maritime boundaries between the two countries.
Lebanon had reached an agreement with Israel on maritime borders through US mediation in 2022. With this development, it is known that the only neighbor with which Lebanon has not yet definitively determined its maritime borders is Syria.
