en.Wedoany.com Reported - Chilean Foreign Minister Francisco Pérez Mackenna and Energy Minister Jimena Rincón recently visited the Vaca Muerta oil field in Argentina, aiming to consolidate the energy integration process between the two countries. Vaca Muerta is Argentina's largest oil and gas producing region and one of South America's key production hubs.
Energy Minister Rincón emphasized the developing relationship between the two countries in this sector, stating that integration is possible, with Argentina having numerous opportunities through Chile, and Chile also benefiting from this integration. The Foreign Minister noted that this visit marks a new phase of cooperation, which will enhance energy security and diversify supply sources for Chile, while for Argentina, it provides access to a stable market through Chile and a logistics platform suitable for expanding resources overseas.
The Foreign Minister stated that the goal is to establish clear rules and efficient infrastructure to ensure competitive and stable energy development for both countries. Integrating networks, harmonizing regulations, and promoting private investment is a wise economic decision that will make both countries more competitive, more resilient, and less vulnerable to international fluctuations. He added that Vaca Muerta could become an engine for integration in the Southern Cone, and Chile is ready to be a reliable partner in this project.
The Chilean delegation also included several political figures, such as Deputy Minister of Public Works Nicolás Balmaceda. The visit stems from the energy complementarity between the two countries: Argentina possesses Vaca Muerta, one of the world's largest unconventional natural gas reserves and the fourth-largest unconventional oil reserve, while Chile has port infrastructure, LNG terminals, regulatory experience, logistics capabilities, and a strategic gateway to the Pacific Ocean, which can help Argentina export its natural gas to global markets.
Neuquén Province Governor Rolando Figueroa and YPF General Manager Horacio Daniel Marín also participated in the visit. Marín presented to the Chilean ministers the expansion plans for Vaca Muerta in the coming years, with investments exceeding $100 billion. The Foreign Minister stated that the idea is to utilize this infrastructure to ensure Argentina's supply in the coming years. The Energy Minister also emphasized that cooperation will bring better opportunities, drawing on the RIGI investment scheme, which offers tax benefits, integration, and legal certainty.
During the visit, the Chilean and Argentine delegations also held a roundtable meeting within the framework of the Bío Bío-Neuquén Bilateral Integration Conference, chaired by the President of the Bío Bío Region, Sergio Giacaman García, and the Governor of Neuquén Province. Technical panels discussed logistics, infrastructure, energy, connectivity, trade exchange, and productive development, aiming to strengthen cooperation and advance a shared development agenda.
At the regional level, Vaca Muerta positions Argentina as a key player in energy supply, with natural gas production expected to grow steadily over the next decade. Argentina has confirmed a gas liberalization plan starting in 2029, allowing contracts of up to 30 years. The Energy Minister stated that transporting Vaca Muerta natural gas to international markets via the liquefaction terminal in Chile's Bío Bío region is feasible. In 2025, Chile's imports of energy products reached $14.416 billion, with 20% coming from Argentina, making Argentina the second-largest energy supplier to the Chilean market, after the United States.
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