President Michel Aoun on Wednesday described the sea border demarcation agreement with Israel as “a gift to the Lebanese people,” adding that it will “pull Lebanon out of the abyss.”

“The situation in Lebanon deteriorated a lot after the country fell into an abyss that wasn’t a coincidence, but rather as a result of actions and behavior that led it to the current situation,” Aoun said.

Parliament is due to convene on Thursday to elect a new President, two days after Lebanon reached a "satisfying" border agreement with Israel that could be signed before the end of President Michel Aoun's term of office on October 31.

The FPM said they would boycott the session on October 13, which marks the anniversary of Aoun's ouster at the end of the civil war in 1990 when the Syrian Army stormed the Baabda Palace, killing hundreds of Lebanese soldiers and civilians.

U.S. Ambassador to Lebanon Dorothy Shea has thanked all Lebanese officials who contributed to reaching a tentative agreement with Israel over the demarcation of the maritime border, saying the deal “sets the stage for a more prosperous and stable Lebanon.”

In a video message, Shea expressed to all those involved Washington’s “profound gratitude, starting with President (Michel) Aoun and his team, Speaker (Nabih) Berri and his principal adviser, and Prime Minister(-designate Najib) Mikati.”

U.S. Secretary of State Antony Blinken has hailed, in a statement, the "historic breakthrough on the Israel-Lebanon maritime boundary."

"This breakthrough promises to usher in a new era of prosperity and stability in the Middle East and will provide vital energy to the people of the region and to the world," Blinken said.

Hezbollah chief Sayyed Hassan Nasrallah on Tuesday cautiously welcomed the Lebanese, Israeli and American declarations about an imminent sea border demarcation deal between Lebanon and Israel, noting that his group will maintain its military readiness until the final agreement is signed by the two sides.

“We are awaiting the declaration of the official stance by the president… We are awaiting the official stance of the enemy's government. What's important is what will happen tomorrow in the meeting of Israel's cabinet,” Nasrallah said in a televised address marking the Prophet’s Birthday.

Parliament Speaker Nabih Berri has said that he does not intend to change the date of Thursday’s presidential election session, despite the Free Patriotic Movement’s objection and declared boycott.

Told that the October 13 anniversary is a sensitive topic for the FPM, Berri asked: “Is October 13 an official holiday? No, not as far as I know.”

Prime Minister-designate Najib Mikati on Tuesday asked French energy giant TotalEnergies to kick start gas exploration off its shores, after Israel said the two countries have reached a U.S.-mediated deal to settle their maritime border.

Lebanon's search for gas riches in the hydrocarbon-rich eastern Mediterranean had stalled since 2020 over competing claims with Israel over offshore gas fields.

Free Patriotic Movement chief Jebran Bassil met Tuesday with Maronite Patriarch Beshara al-Rahi and handed him a copy of a "presidential priorities" paper that had been announced last week by the FPM leader.

Bassil said that he will contact the parliamentary blocs to discuss with them the presidential paper.

Lebanon has secured its "full rights" in the latest text drafted by U.S. mediators to demarcate the maritime border with Israel, its lead negotiator said Tuesday, after Israel said it met its terms too.

"Lebanon has obtained its full rights, and all of its remarks have been taken into account," said lead negotiator Elias Bou Saab, the deputy speaker of parliament, after handing the draft to President Michel Aoun.

Both Lebanon and Israel have said that they are satisfied with a draft submitted overnight by U.S. mediator Amos Hochstein and that the draft may lead to a "historic" sea border demarcation deal that will allow both sides to explore for huge reserves of gas off their Mediterranean coasts.

Hochstein submitted an initial set of proposed final terms to Israel and Lebanon earlier this month.