YPF and YPF Luz sealed a memorandum of understanding with the Korean company Posco to explore the development of renewable energies and investments in the country, which would include a green hydrogen production plant with export possibilities. The Argentine companies, together with Y-Tec, participated in the H2 Meet 2023, one of the most important hydrogen conferences at global level that gathered in Seoul the leading companies of the Korean market and foreign referents in hydrogen with the aim of leading technological innovation and exchanging new visions, policies and business.
In this context, YPF and YPF Luz signed a memorandum of understanding with Posco, one of the main Korean steel producers worldwide, which in Argentina carries out the integral lithium project Sal de Oro, located in the Salar del Hombre Muerto, on the border between Salta and Catamarca.
The meeting held in the capital of South Korea was attended by Santiago Sacerdote, Executive Manager of New Energies of YPF; Carlos Mafia del Castillo, Innovation Manager of YPF Luz, and authorities from Posco. Also invited to the ceremony were the Argentinean ambassador in Korea, members of the Foreign Ministry and Matías Cutueño, leader of Y-TEC's H2ar consortium.
The agreement is framed as a "green hydrogen business cooperation" pact, which includes the opportunity to explore the development of renewable energies and investments in the country with the possibility of boosting exports.
YPF also communicated that the understanding represents the beginning of a "joint cooperation to evaluate plans and exchange experiences and knowledge" regarding innovation for the generation of hydrogen and green ammonia, as well as for operational excellence and the reduction of environmental impact.