Economic Analysis of Hydrogen Storage and Transportation Technology for Offshore Hydrogen Production Platform

Abstract

This study establishes a levelized cost model to evaluate four offshore hydrogen storage and transportation methods: gas-hydrogen shipping, liquid-hydrogen shipping, solid-state hydrogen shipping, and existing pipeline hydrogen blending transportation, incorporating both fixed investments and operating costs for a comprehensive economic feasibility analysis. Using a 300 MW offshore wind-powered hydrogen production platform as a case study, the research conducts a comprehensive economic analysis and comparison of these four storage and transportation technologies across varying offshore distances of 50, 100, and 150 km. The results indicate that the gas-hydrogen shipping is the most economical method, with a levelized cost of 2.55-3.88 CNY/kg. As the offshore distance increases, the levelized cost of shipping increases by 1.3%, while the increase in existing pipelines is 0.4%. Electricity consumption emerges as a significant cost factor across all methods, with sensitivity ratio (SR) values of 32.47%, 54.14%, 79.26%, and 91.58%, respectively. A 20% reduction in electricity price leads to a 9% cost decrease for solid-state hydrogen shipping, while gas-hydrogen shipping only a 0.95% cost reduction. The evaluation framework provides a robust quantitative basis for selecting optimal storage and transportation methods in offshore wind-powered hydrogen production systems.

Keywords: offshore wind power, Hydrogen Energy, Offshore hydrogen storage and transportation, economic analysis, Levelized cost, Sensitivity Analysis