The combination of low-cost gas resources and low-cost renewable energy makes the Middle East and North Africa (Mena) region a "strong" candidate to become a major exporter of blue and green hydrogen, according to the Arab Petroleum Investments Corporation (Apicorp). At gas prices of $3-4/MMBTU, the levelised cost of blue hydrogen (LCOH) is estimated to be around 1.5/kgH in the Mena region based on SMR (Steam Methane Reformer) and CCUS (carbon capture utilisation and storage) technologies, the multilateral development financial institution said in its latest report. The LCOH for green hydrogen is estimated to be $2.1/kgH to $3.6/kgH for the alkaline electrolysers and $2.3/kgH to $3.8/kgH
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