2.1 Levelized Cost of Hydrogen Modelling across the Maritime Value Chain
The methodological framework for evaluating green hydrogen export corridors from deep-water maritime hubs requires a multi-stage life-cycle techno-economic architecture. To assess export viability from Sines to European receiving terminals, the analytical structure decouples the total delivered levelized cost of hydrogen (LCOH) into distinct, interconnected operational boundaries: upstream renewable generation, electrochemical conversion, intermediate port terminal conditioning, and long-range shipping logistics. Following established techno-economic modeling protocols for international hydrogen trade, capital and operational expenditures are dynamically calculated across carrier conditioning pathways, accounting for energy penalties and boil-off gas dynamics during maritime transit (Techno-Economic Analysis of Green Hydrogen Export, 2024). This modular boundary demarcation enables precise comparative optimization between direct compressed hydrogen routing and chemical vector synthesis, ensuring that conversion efficiencies directly parameterize terminal infrastructure requirements (Techno-Economic Optimization for Sustainable and Efficient Green Hydrogen Export, 2025). Furthermore, incorporating continuous spatial and logistical parameterization refines the assessment of export economics against varying destination terminal topologies, consistent with spatial techno-economic methodologies for maritime trade corridors (Techno-Economic Calculation of Green Hydrogen Production and Export from Colombia, 2023). By integrating discounted cash flow metrics with sensitivity analyses on electricity tariffs, electrolyzer capacity factors, and maritime freight charters, this methodology isolates the primary cost drivers governing Sines' export competitiveness without relying on static supply-chain assumptions.