Objectives  Natural gas blending with hydrogen technology has become a link for the integrated development of hydrogen energy and natural gas. However, the currently constructed natural gas blending with hydrogen projects are primarily focused on technical verification and do not possess economics. It is necessary to build an economic evaluation model for the natural gas blending with hydrogen projects to clarify its economics.

Methods  An economic input-output life cycle assessment model based on the technical route of natural gas blending with hydrogen projects was constructed, and the analyses of key economic influencing factors for natural gas blending with hydrogen projects were conducted.

Results  The measurement method of hydrogen-blended natural gas and the purchase price of natural gas were the main factors affecting project economics. Under volume measurement, when the hydrogen blending volume ratio was 10% and the hydrogen price was 1.6 yuan/m³, the internal rate of return (IRR) of the project was 5.24%. If the purchase price of natural gas increased by 5%, the project's return rate increased by 12.76 percentage points. Under energy measurement, the project was only economically viable when the hydrogen price was below 0.49 yuan/m³. If the purchase price of natural gas increased by 5%, the project's return rate increased by 1.06 percentage points.

Conclusions  The measurement method of hydrogen-blended natural gas has a significant impact on project economics. Under volume measurement, natural gas blending with hydrogen projects already exhibit good economics. Under energy measurement, it is recommended to prioritize the implementation of this technology in regions with higher natural gas gate station prices.