Uruguay's state-run energy firm, Ancap, is gearing up to initiate a bidding round for natural hydrogen exploration, with offers anticipated in 2026. The decision was announced by Ancap executives during a conference in Houston, where they also hinted at a potential future bidding round for carbon capture investment in 2027. Geologists view Uruguay as a promising region for natural hydrogen exploration due to the significant presence of the element in its rocks. While the Uruguayan government has focused on promoting green hydrogen production as part of its renewable energy strategy, it acknowledges the value of natural hydrogen produced through geological processes. Santiago Ferro, responsible for energy transition at Ancap, expressed optimism about receiving offers for both natural hydrogen and green hydrogen in the upcoming round. Further discussions are required to finalize contract details for the green hydrogen offshore development round, which was announced in 2024. The country's proactive approach towards exploring diverse sources of hydrogen aligns with its commitment to a sustainable energy transition.