Argentina will keep sending natural gas to Chile until December 31, 2024. The Foreign Ministry made this announcement.
This move boosts the energy partnership between the two countries. Argentina will tap into Vaca Muerta for this purpose.
Vaca Muerta is in Neuquén province. It has some of the world’s largest reserves of unconventional gas and oil.
This announcement came on the 50th anniversary of Chile’s coup against Salvador Allende. Gabriel Fuks and Rafael Bielsa represented Argentina at the event.
Fuks is the Deputy Secretary for Latin American Affairs. Bielsa is the Ambassador to Chile.
For the upcoming winter, Argentina will send up to 5 million cubic meters of gas daily. From October to December 2024, that number will go up to 9 million.
Gas exports to Chile were worth $556.4 million between January and July. This is an 86.8% rise compared to last year.
In the previous year, natural gas exports to Chile totaled $688 million.
Background
Argentina and Chile share a long history of trade and diplomacy. Yet, their relationship has seen ups and downs.
In the past, border disputes have strained ties. Natural resources like gas offer a new chapter in bilateral relations.
Vaca Muerta is a game-changer for Argentina’s economy. It has the potential to make Argentina a top global energy supplier.
Chile relies on imports to meet its energy needs. This deal can offer a win-win situation, bolstering both economies.
Argentina has been a key energy supplier to its neighbor, Chile, for years.
This new pledge strengthens the energy ties and comes at the 50th anniversary of Chile’s coup against Salvador Allende.
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