I begin by apologizing to process engineers who already know these details for revisiting them for the benefit of engineers from other disciplines:
To me, the main issue with a recycle gas compressor in this application is that the recycle flow itself can vary hugely, depending on unit throughput, operating severity, and of course start-up, shut-down, and other abnormal conditions. The performance curves for the compressor dictate the required speed for a given suction flow and desired head. For most compressors, the head drops off as flow increases at constant RPM. Thus, the compressor controls require that speed be increased continually to maintain constant head (or pressure ratio if you prefer to look at it that way) when flow increases.
The compressor driver must therefore be capable of responding smoothly to varying speed demands at highly variable power loadings. Steam turbines have proven their capability in this respect over very long periods of time, although I agree absolutely with the others who have responded to this post that turbines require more maintenance than electric motors. However, there are a lot of electrical paraphernalia and complex control issues to consider for large horsepower variable speed electric drives. Also, although I am not an electrical engineer, I believe that the range of operability (speed variation v/s loading) for steam turbines is greater than for electric drives.
Therefore, the three main questions that occur to me from a process and economic standpoint are:
(a) How much load variation do you currently see in your unit (especially during abnormal events)?
(b) Do you have the assurance that an electric driver will provide the needed flexibility without requiring a complete revamp of the anti-surge control system? (Recall you are handling mostly hydrogen, a very low molecular weight gas).
(c) Is the cost of conversion reasonable (assuming that you have included the economic cost of down-time or scheduled the work to coincide with a planned maintenance outage)?
Finally, the safety issue for hydrocrackers stands out in my mind as pre-eminent: the loss of recycle hydrogen to cool a hydrocracker reactor just when it is close to the edge of being in a thermal run-away condition can lead to a catastrophe (large hydrogen filled reactor vessels at extremely high pressure).