Turkish Foreign Ministry issued a written statement on Thursday evaluating the Maritime Boundary Delimitation Agreement signed between Lebanon and Israel.

“We welcome the maritime boundary delimitation agreement signed between Lebanon and Israel on October 27, with mediation of the United States, as a result of indirect talks” the Turkish Foreign Ministry statement said.

“We hope that this agreement will contribute to peace and stability in the Eastern Mediterranean, already facing a number of challenges” the statement added.

“The agreement also envisages a joint development model and revenue sharing through third party operator for certain hydrocarbon license areas within the two countries’ continental shelf” the statement said.

“This model which reflects similar practices in the world sets a good example for the region and in particular for the Turkish and Greek Cypriots” the Turkish Foreign Ministry stressed.

“In fact, last July, the Turkish Republic of Northern Cyprus made a cooperation proposal to the Greek Cypriot side based on a joint development approach through determining equitable revenue sharing percentages, without prejudice to the existing rights of international oil companies; and offered to establish a joint committee for this purpose” the Turkish Foreign Ministry noted.

“Having proposed to convene an inclusive Eastern Mediterranean Conference in 2020, Türkiye continues to support the off-shore hydrocarbon cooperation proposals put forward by the Turkish Republic of Northern Cyprus in 2011, 2012, 2019 and 2022” the statement added.