American-mediated talks to delineate the disputed maritime border between Lebanon and Israel have stalled, with no progress expected for the foreseeable future. US Department of State negotiators had proposed a compromise that would have seen Lebanon secure 530 sq km of the 854 sq km disputed maritime territory; however, Israeli officials recently rejected the proposal, according to Israeli economic publication Globes.
Under the terms of the compromise, the remaining disputed territory – about 324 sq km – would be off limits for investment until a future agreement is reached. The impasse presents yet another setback for Lebanon, as it prepares to accept bids from IOCs for rights to explore the country’s offshore area for oil and gas. (CONTINUED - 379 WORDS)