A recent study from the Stockholm School of Economics highlights the critical role of hydrogen sourcing in Romania's green steel production. The research focuses on the financial implications of transitioning Liberty Steel Galați to low-carbon steelmaking using green hydrogen and electric arc furnace technologies. The study reveals that the competitiveness of green steel production in Romania is contingent on producing hydrogen on-site to avoid substantial value losses. If the hydrogen is purchased externally, a 15% price premium would be necessary to prevent billions in net value losses over 20 years. However, if produced on-site with stable electricity prices, green steel could potentially be cheaper than conventionally produced steel. The transition at Liberty Steel Galați is crucial for meeting the EU's climate goals and could set a precedent for green steel production in Central and Eastern Europe. Challenges include the significant increase in electricity demand associated with on-site hydrogen production, the requirement for fossil-free energy sources, and the need for supportive policies and infrastructure. The study underscores the importance of stable electricity pricing, green energy production, hydrogen infrastructure development, and policy support for the financial viability of low-carbon steel. While the research provides valuable insights for industry risk assessments and decarbonization strategies, uncertainties remain regarding future electricity prices, hydrogen infrastructure readiness, and policy interventions.