Uruguay's state-run energy firm Ancap plans to launch a bidding round for natural hydrogen exploration and development by the end of the year, with offers expected in 2026, executives said on Wednesday.
Ancap is also exploring a bidding round for carbon capture investment, to be launched potentially in 2027, the firm's representatives said at a conference in Houston.
Uruguay is considered a promising region by geologists for natural hydrogen exploration due to the significant presence of the element in its rocks.
While Uruguay's government has prioritized green hydrogen production as part of its renewable energy push, it recognizes the potential of natural hydrogen, which is produced through geological processes in the Earth's subsurface.
Santiago Ferro, who oversees energy transition at Ancap, said that the firm was "most likely" to receive offers for natural hydrogen and green hydrogen in 2026.
Contract details for the green hydrogen offshore development round announced in 2024 still needed to be addressed, Ferro added.
(Reuters)