Israeli leaders have recently expressed feelings of great relief following the announcement of the discovery of large deposits of natural gas off the coast of Israel, to the extent that some officials predicted Israel may soon become an exporter of natural gas. On the other hand, it is evident that this announcement carries with it immense repercussions for the Lebanon/Israel conflict, following Lebanon's affirmation that some of these newly discovered gasfields fall inside Lebanese national waters. I will try to address two main questions. First, what is the economic and strategic value of these new gas discoveries for Israel? And second, what is the fate of the Israeli-Lebanese conflict in light of these discoveries?
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