Techno-economic feasibility study of imported green hydrogen via inter-continental route: From Australia to South Korea

Abstract

Green hydrogen is crucial for South Korea’s low-carbon transition. However, due to limited domestic production capacity, importing hydrogen from countries with abundant renewable energy resources, such as Australia, is essential. This study develops a model to evaluate the techno-economic feasibility of importing green hydrogen from Australia. The analysis considers importing stages, including hydrogenation, shipping, port, dehydrogenation, and inland distribution, evaluating multiple pathways with, liquid hydrogen and ammonia carriers, and various transportation methods. The results demonstrate that ammonia (USD 3.345–8.008 kg-H₂⁻¹) is a more economically viable hydrogen carrier compared to liquid hydrogen (USD 6.456–10.656 kg-H₂⁻¹). Furthermore, importing costs are projected to decline by approximately 12.5 %–37.3 % by 2030, aligning with South Korea’s national hydrogen technology development targets. The study also finds that even under a global carbon price scenario of up to USD 200 ton-CO₂⁻¹, carbon-free ships struggle to achieve cost parity with fossil-fueled ships. Achieving cost parity for carbon-free ships by 2040 would specifically require a carbon price approximately 38.5 % higher than this maximum scenario. For inland transportation, battery-electric vehicles become economically favorable at carbon prices up to USD 86 ton-CO₂⁻¹. This research also emphasizes the need for strategic investments in energy-efficient ammonia cracking technologies, clean transportation methods such as battery-electric vehicles and ammonia-powered ships, and comprehensive hydrogen supply planning to enable a cost-effective, low-carbon economy. It additionally highlights the importance of embedding carbon pricing within the hydrogen import process.