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GREEN HYDROGEN PRODUCTION PRICE USING AVAILABLE PROCESS CANNOT BEAT NATURAL GAS

NG PRICE
LEVERAGE COST OF PRODUCTION (LCOH) LEVERAGE COST OF PRODUCTION
RESOURCES FOR GREEN (US$ per
(US$ per Kg) (LCOH)(US$ per MMBTU)
HYDROGEN MMBTU)
(Note 1) (Note 2)
(Note 3)
2020 2022 2025 2030 2035 2040 2045 2050 2020 2022 2025 2030 2035 2040 2045 2050
Methane Reforming with CCS
Peninsular Malaysia 3.0 3.4 2.9 2.7 2.9 3.2 3.1 3.1 22.1 25.6 21.6 19.8 21.8 23.9 23.1 22.8 13.1
Sarawak 3.0 6.9 3.4 3.2 3.2 3.2 3.1 3.1 22.1 51.3 25.3 23.9 24.1 23.9 23.1 22.8 13.1
Sabah 3.0 6.9 3.4 3.2 3.2 3.2 3.1 3.1 22.1 51.3 25.3 23.9 24.1 23.9 23.1 22.8 13.1
Malaysian simple average 3.0 5.7 3.2 3.0 3.1 3.2 3.1 3.1 22.1 42.7 24.0 22.5 23.3 23.9 23.1 22.8 13.1
SEA - Methane Reforming
3.9 4.7 4.1 2.9 3.0 3.0 2.9 2.9 28.6 35.1 30.2 21.7 22.4 22.1 21.8 21.7 13.1
with CCS
Dedicated solar PV electrolysis
Peninsular Malaysia 8.2 7.7 6.9 5.1 4.3 3.8 3.5 3.2 60.7 57.2 50.9 37.5 32.0 28.5 25.9 23.9 13.1
Sarawak 8.7 8.2 7.3 5.4 4.6 4.1 3.7 3.4 64.8 61.1 54.3 40.0 34.2 30.3 27.5 25.4 13.1
Sabah 8.1 7.7 6.8 5.0 4.3 3.8 3.5 3.2 60.4 56.9 50.6 37.4 31.9 28.3 25.7 23.8 13.1
Malaysian simple average 8.3 7.9 7.0 5.2 4.4 3.9 3.5 3.3 62.0 58.4 51.9 38.3 32.7 29.0 26.4 24.4 13.1
SEA - Solar 7.0 6.6 5.9 4.4 3.8 3.4 3.1 2.9 52.3 49.0 44.0 32.6 28.1 25.1 22.9 21.2 13.1
Dedicated hydropower electrolysis
Peninsular Malaysia 12.6 9.5 9.4 7.1 6.6 6.4 6.1 5.9 93.4 70.5 69.5 52.5 49.1 47.2 45.3 43.8 13.1
Sarawak 3.7 3.5 3.4 2.6 2.4 2.2 2.1 1.9 27.2 25.9 24.9 19.4 17.6 16.4 15.3 14.4 13.1
Malaysian simple average 8.1 6.5 6.4 4.8 4.5 4.3 4.1 3.9 60.3 48.2 47.2 35.9 33.4 31.8 30.3 29.1 13.1
SEA - Hydro 8.2 8.0 7.7 5.8 5.2 4.9 4.5 4.2 61.2 59.7 57.4 43.2 38.9 36.2 33.6 31.4 13.1
OVERALL
Malaysia 6.0 6.6 5.2 4.2 3.9 3.7 3.5 3.4 44.6 49.0 38.8 31.0 29.0 27.7 26.2 25.1 13.1
SEA 6.4 6.5 5.9 4.4 4.0 3.7 3.5 3.3 47.4 47.9 43.9 32.5 29.8 27.8 26.1 24.8 13.1
Note 1: source - DNV-GL: https://www.norway.no/globalassets/2-world/malaysia/hydrogen-mapping-in-malaysia-report.pdf Note 2: 7.43 Kg = 1 MMBtu Note 3: Average JKM projection 2022 - 2028

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