Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore

Anthropogenic climate change and the ongoing energy crisis due to the Russia-Ukraine war triggered the acceleration of global energy transition to greener alternative fuels for the sake of sustainability and survival. Among many options, hydrogen is deemed to have high renewable energy potential bec...

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Main Author: Mok, Xi Tian
Other Authors: Chiu Sai Hoi, Benson
Format: Final Year Project
Language:English
Published: Nanyang Technological University 2023
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Online Access:https://hdl.handle.net/10356/172766
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spelling sg-ntu-dr.10356-1727662023-12-22T15:34:41Z Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore Mok, Xi Tian Chiu Sai Hoi, Benson School of Civil and Environmental Engineering BensonChiu@ntu.edu.sg Engineering::Maritime studies Anthropogenic climate change and the ongoing energy crisis due to the Russia-Ukraine war triggered the acceleration of global energy transition to greener alternative fuels for the sake of sustainability and survival. Among many options, hydrogen is deemed to have high renewable energy potential because it is abundant in the atmosphere and environmentally friendly. However, harnessing it is a complex process as hydrogen in nature exists as part of molecules, such as in water (H2O), and must be dissociated to be used in its pure form. Hydrogen produced can be grey, blue, or green depending on its source and production methods. Global hydrogen users are primarily interested in blue and green hydrogen which are considered low-carbon and thus more sustainable. Singapore is one of the newest countries to join the global hydrogen movement, launching our National Hydrogen Strategy in 2022 as a commitment to utilising low-carbon hydrogen for our domestic needs in the power, industrial, and transport sectors. This report aims to investigate the impacts of this commitment and the economic viability of hydrogen in Singapore from the perspective of the full hydrogen value chain – production, distribution, and application. The literature review revealed robust theoretical techno-economic assessments of a hydrogen supply chain but lacked insights from practical applications and contextual considerations for a small island-state like Singapore. A social survey with the Singapore public and four interviews with professionals in the maritime industry were conducted to bridge the research gaps from a bottom-up approach. Results revealed that the current hydrogen landscape translates to low economic viability for pure hydrogen but growing prospects for hydrogen derivatives like ammonia and methanol. The primary obstacles of developing a sustainable hydrogen market in Singapore are scarce land space, high capital costs, high associated energy costs, low energy densities of associated fuels, and low knowledge levels. However, opportunities also exist that could promote a successful hydrogen economy in Singapore, and the main leverage used in this report relates to Singapore’s established position as a global trading and bunkering hub. Three recommendations which tackle the economic aspects of hydrogen’s journey in Singapore are provided, namely sourcing for hydrogen imports from other countries like Australia and Japan, innovating differentiated solutions in unexplored fields related to hydrogen, and educating the public about economic measures in place to transition to a greener Singapore. Bachelor of Science (Maritime Studies) 2023-12-20T03:27:09Z 2023-12-20T03:27:09Z 2023 Final Year Project (FYP) Mok, X. T. (2023). Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/172766 https://hdl.handle.net/10356/172766 en application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Engineering::Maritime studies
spellingShingle Engineering::Maritime studies
Mok, Xi Tian
Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
description Anthropogenic climate change and the ongoing energy crisis due to the Russia-Ukraine war triggered the acceleration of global energy transition to greener alternative fuels for the sake of sustainability and survival. Among many options, hydrogen is deemed to have high renewable energy potential because it is abundant in the atmosphere and environmentally friendly. However, harnessing it is a complex process as hydrogen in nature exists as part of molecules, such as in water (H2O), and must be dissociated to be used in its pure form. Hydrogen produced can be grey, blue, or green depending on its source and production methods. Global hydrogen users are primarily interested in blue and green hydrogen which are considered low-carbon and thus more sustainable. Singapore is one of the newest countries to join the global hydrogen movement, launching our National Hydrogen Strategy in 2022 as a commitment to utilising low-carbon hydrogen for our domestic needs in the power, industrial, and transport sectors. This report aims to investigate the impacts of this commitment and the economic viability of hydrogen in Singapore from the perspective of the full hydrogen value chain – production, distribution, and application. The literature review revealed robust theoretical techno-economic assessments of a hydrogen supply chain but lacked insights from practical applications and contextual considerations for a small island-state like Singapore. A social survey with the Singapore public and four interviews with professionals in the maritime industry were conducted to bridge the research gaps from a bottom-up approach. Results revealed that the current hydrogen landscape translates to low economic viability for pure hydrogen but growing prospects for hydrogen derivatives like ammonia and methanol. The primary obstacles of developing a sustainable hydrogen market in Singapore are scarce land space, high capital costs, high associated energy costs, low energy densities of associated fuels, and low knowledge levels. However, opportunities also exist that could promote a successful hydrogen economy in Singapore, and the main leverage used in this report relates to Singapore’s established position as a global trading and bunkering hub. Three recommendations which tackle the economic aspects of hydrogen’s journey in Singapore are provided, namely sourcing for hydrogen imports from other countries like Australia and Japan, innovating differentiated solutions in unexplored fields related to hydrogen, and educating the public about economic measures in place to transition to a greener Singapore.
author2 Chiu Sai Hoi, Benson
author_facet Chiu Sai Hoi, Benson
Mok, Xi Tian
format Final Year Project
author Mok, Xi Tian
author_sort Mok, Xi Tian
title Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
title_short Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
title_full Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
title_fullStr Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
title_full_unstemmed Economic aspect of the journey of hydrogen as an energy source and alternative fuel in Singapore
title_sort economic aspect of the journey of hydrogen as an energy source and alternative fuel in singapore
publisher Nanyang Technological University
publishDate 2023
url https://hdl.handle.net/10356/172766
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