Lapid says 'historic' sea border deal will strengthen Israel's security

Israel's prime minister said Tuesday that the country has reached an "historic agreement" with neighboring Lebanon over their shared maritime border after months of U.S.-brokered negotiations, potentially unlocking significant offshore gas production.

Premier Yair Lapid called the deal a "historic achievement that will strengthen Israel's security, inject billions into Israel's economy, and ensure the stability of our northern border."

"In the last few hours, Israel received a draft agreement that meets all of its security, economic and legal demands," the statement from Lapid's office said.

The premier will "convene a security cabinet meeting, followed by a special government meeting at which the agreement will come before the government for approval before it is presented to the Knesset (parliament)," it added.

The agreement is expected to enable additional natural gas production in the Mediterranean. Lebanon hopes gas exploration will help lift its country out of its spiraling economic crisis.

Lebanon and Israel have been officially at war since Israel's creation in 1948 and both countries claim some 860 square kilometers (330 square miles) of the Mediterranean Sea.