Hebrew, “to pour,” or “to pour out.” Libations were done in ancient Israel, pouring water, oil, or wine out on altars or onto the ground as a sacrifice to YHVH. Libations also appear in the New Testament, practiced by Jesus and others. The Greek term for libation, σπονδή, became synonymous over time with “peace treaty,” as they were normally conducted in a spirit of peace.
See 1 Moses 47:14, 3 Moses 24:11, 4 Moses 38:11-12, Genesis 35:14, Exodus 29:40, Leviticus 23:13, Isaiah 30:1, Luke 22:20, Philippians 2:17.