Thai Binh LNG project construction is facing land acquisition and implementation challenges despite progressing with technical advisory appointments and feasibility assessments.
The $2.69 billion development in Hung Yen Province, northern Vietnam, targets 1,500MW of gas-fired electricity generation. Although construction commenced in October 2025, recent disclosures indicate that significant land-clearance requirements remain outstanding.
By October 2026, investors had cleared approximately 37.37 hectares against a reported 63.5-hectare onshore requirement. Meanwhile, Swedish engineering company AFRY secured an international technical advisory appointment in August 2026. The latest developments highlight the difference between commencing construction and achieving full implementation readiness.
Thai Binh LNG Project Advances with AFRY Engineering Appointment
The Thai Binh LNG project secured an important engineering milestone when AFRY received its International Technical Adviser appointment on August 31, 2026.
According to AFRY, its responsibilities cover offshore and onshore infrastructure. These include LNG receiving facilities, combined-cycle power plant infrastructure and subsea gas pipeline systems.
Furthermore, the engineering scope includes a submerged yoke mooring system and associated marine facilities. AFRY will also provide technical support for offshore surveys.
The infrastructure will connect a floating LNG terminal with the proposed 1,500MW power station. Consequently, the development will integrate LNG import facilities with electricity generation infrastructure.
Yasushi Kuno, Chief Executive Officer of Thai Binh LNG Power JSC, highlighted AFRY’s experience in complex LNG developments. Meanwhile, AFRY’s Rishi Agrawal said the appointment strengthens its Southeast Asian energy infrastructure portfolio.
However, the appointment does not establish the completion of engineering or construction. The project still requires further implementation activities.
Thai Binh LNG Project Faces Land Clearance and Delivery Challenges
The development commenced construction on October 10, 2025. Nevertheless, the latest land-clearance figures indicate continuing site preparation requirements.
According to Vietnam Investment Review, investors had cleared approximately 37.37 hectares by October 2026. The reported onshore clearance requirement stands at 63.5 hectares.
Consequently, outstanding land requirements remain an important consideration for construction progress. The Ministry of Industry and Trade also appraised the project’s feasibility study report in April 2026.
The investor continues undertaking subsequent development procedures. However, authorities have not announced a revised construction completion schedule.
The project forms part of Vietnam’s wider LNG power-generation expansion. Nevertheless, implementation challenges extend beyond individual construction sites.
Vietnam currently monitors 18 major LNG power projects exceeding 20,000MW collectively. The Ministry of Industry and Trade has identified land acquisition, financing and power purchase agreements among sector-wide challenges.
Furthermore, Vietnam’s National Assembly is considering amendments to the Electricity Law. The proposed amendments could address regulatory obstacles affecting LNG power investments. Lawmakers were expected to vote on the changes on November 20, 2026.
Thai Binh LNG Project Targets 2029 Power Generation
The $2.69 billion development will comprise two combined-cycle gas turbine units. Together, they will provide an installed generation capacity of 1,500MW.
Once operational, the facility is expected to generate between six billion and ten billion kilowatt-hours annually. This capacity could strengthen electricity supply across northern Vietnam.
The region accounts for approximately 40% of Vietnam’s national electricity demand. Therefore, additional generation infrastructure could help address growing consumption.
The project also involves significant international investment. Tokyo Gas holds 40% of Thai Binh LNG Power JSC, while Kyuden International owns 30%. Truong Thanh Vietnam Group holds the remaining 30%.
The development reflects broader efforts to strengthen energy security through diversified infrastructure. Similarly, the proposed Iraq-Saudi oil pipeline revival demonstrates how governments are pursuing alternative energy transportation corridors. The two developments represent different infrastructure approaches to strengthening regional energy security.
However, Thai Binh’s delivery depends on completing outstanding land procedures and subsequent construction activities. Its targeted fourth-quarter 2029 completion will require sustained progress across engineering and project implementation.
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Thai Binh LNG Plant scope
The Thai Binh LNG Thermal Power plant will cover an area of 269.4 hectares of both land and water surface. The project has been scheduled to begin commercial operation on the first turbine in 2028. The second turbine will begin commercial operation in the following year.
Project fact sheet
Name: Thai Binh LNG Thermal Power Plant.
Type: LNG import terminal and gas-fired power generation development.
Location: Hung Yen Province, northern Vietnam.
Estimated Investment: US$2.69 billion.
Installed Capacity: 1,500MW.
Generation Configuration: Two combined-cycle gas turbine units.
Total Development Area: Approximately 269 hectares.
Onshore Area: 57 hectares in the original project description.
Latest Reported Land Clearance Requirement: 63.5 hectares onshore.
Land Cleared: Approximately 37.37 hectares by October 2026.
Offshore Infrastructure: LNG receiving facilities, subsea pipelines, marine facilities and mooring systems.
LNG Supply Infrastructure: Floating LNG terminal.
Expected Annual Generation: 6–10 billion kWh.
Construction Commencement: October 10, 2025.
Target Completion: Fourth quarter of 2029.
Latest Engineering Development: AFRY appointed International Technical Adviser on August 31, 2026.
Feasibility Study: Appraised by Vietnam’s Ministry of Industry and Trade in April 2026.
Current Status: Construction commenced; land clearance and further implementation procedures continue.
Project team
Developer: Thai Binh LNG Power Joint Stock Company.
Investor and Shareholder:
Tokyo Gas – 40%.
Kyuden International – 30%.
Truong Thanh Vietnam Group – 30%.
International Technical Adviser: AFRY
Government Technical Authority: Vietnam Ministry of Industry and Trade
Provincial Authority: Hung Yen Provincial Government
Project Engineering Scope: AFRY
Main Construction Contractor: Not publicly confirmed.
EPC Contractor: Not publicly confirmed.
Project Financing Institutions: Not publicly confirmed.
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