JWST observations of K2-18b can be explained by a gas-rich mini-Neptune with no habitable surface

JWST recently measured the transmission spectrum of K2-18b, a habitable-zone sub-Neptune exoplanet, detecting CH$_4$ and CO$_2$ in its atmosphere. The discovery paper argued the data are best explained by a habitable "Hycean" world, consisting of a relatively thin H$_2$-dominated atmosphere overlying a liquid water ocean. Here, we use photochemical and climate models to simulate K2-18b as both a Hycean planet and a gas-rich mini-Neptune with no defined surface. We find that a lifeless Hycean world is hard to reconcile with the JWST observations because photochemistry only supports $< 1$ part-per-million CH$_4$ in such an atmosphere while the data suggest about $\sim 1\%$ of the gas is present. Sustaining %-level CH$_4$ on a Hycean K2-18b may require the presence of a methane-producing biosphere, similar to microbial life on Earth $\sim 3$ billion years ago. On the other hand, we predict that a gas-rich mini-Neptune with $100 \times$ solar metallicity should have 4% CH$_4$ and nearly 0.1% CO$_2$, which are compatible with the JWST data. The CH$_4$ and CO$_2$ are produced thermochemically in the deep atmosphere and mixed upward to the low pressures sensitive to transmission spectroscopy. The model predicts H$_2$O, NH$_3$ and CO abundances broadly consistent with the non-detections. Given the additional obstacles to maintaining a stable temperate climate on Hycean worlds due to H$_2$ escape and potential supercriticality at depth, we favor the mini-Neptune interpretation because of its relative simplicity and because it does not need a biosphere or other unknown source of methane to explain the data.