Argentinian Energy Minister Juan José Aranguren and his Chilean counterpart, Máximo Pacheco, have agreed on a series of accords that is set to aid Argentina's energy sector during the winter months, according to Merco Press.

Under the tenets of the agreement, Argentina, which has been suffering from a relatively weak energy sector, will be receiving about 5.5 million cubic feet of natural gas every day, starting May 2016.

Apart from selling natural gas to Argentina, Chile is also set to provide the energy-embattled Latin American country with about 200 megawatts of electricity every day, which would be distributed through the interconnection power systems between both countries.

The aid that Argentina is set to receive from Chile is quite significant as the natural gas figures from the deal correspond to roughly about 20 percent of the country's gas imports. What is interesting, however, is the fact that the gas Chile will be selling Argentina would be acquired through imports as well.

Chile regularly imports gas from southeast Asia in the GNL terminals of Mejillones and Quintero, and it is the very same gas that the Chilean energy sector will be endorsing to Argentina to power several industrial and residential grid in Buenos Aires.

Most of the natural gas will be delivered through the NorAndino and GasAndes pipelines, according to the Buenos Aires Herald.

Electricity-wise, Chile will be exporting power through a major power line which goes from the Chilean area of Mejillones and the Salta province in Argentina.

That is not all, however. Apart from acquiring natural gas and electricity from Chile and Argentina have also agreed to contribute to the development of the Incremental Project of the Magallanes Area, which is expected to increase the production of natural gas in Argentina from 2.4 million to 4 million cubic meters a day. It is also set to give the Chilean economy approximately 180 million annually.

Chilean Energy Minister Máximo Pacheco is very optimistic about the accords that were reached with Argentina, emphasizing that both nations would benefit greatly from the developments.

"A new era begins in the energy integration between Chile and Argentina," he said.

What is particularly interesting is that about two decades ago, Argentina and Chile were playing opposite roles, with Chile being fully dependent on the natural gas supply of Argentina. A series of unfortunate turns in the natural gas sector, headlined by the involvement of the Kitcheners, eventually gave the natural gas industry a massive blow. From being a world-class natural gas exporter, Argentina became a world-class natural gas importer.