Thai Binh LNG is set to receive technical advisory services from Swedish engineering firm AFRY for its $2.69 billion development in Vietnam. AFRY has been selected as the International Technical Adviser for the 1.5GW LNG-to-power project in Hung Yen. Its assignment covers offshore and onshore infrastructure, including LNG receiving facilities and the associated combined-cycle power plant. The appointment also includes technical support throughout the project’s development phase.
The project combines an offshore LNG receiving terminal with a 1.5GW natural gas-fired power plant. It will therefore integrate LNG import infrastructure with electricity generation at the same development.
AFRY’s appointment specifically covers several marine and subsea infrastructure components. These include subsea gas pipelines, a Submerged Yoke Mooring system and marine facilities.
Thai Binh LNG Project Adds AFRY as Technical Adviser
Under the appointment, AFRY will provide technical advice for the project’s offshore LNG receiving infrastructure. The company will also advise on the combined-cycle power plant.
Furthermore, its scope covers subsea gas pipeline systems connecting the offshore LNG infrastructure with the power generation facilities. AFRY will also support work involving the Submerged Yoke Mooring system.
The assignment includes marine facilities and offshore surveys as part of the technical advisory scope. However, AFRY has not disclosed the value of its advisory contract.
The offshore infrastructure will connect a floating LNG receiving terminal with the 1.5GW power plant. This configuration forms the project’s integrated LNG-to-power system.
Yasushi Kuno, CEO of Thai Binh LNG Power JSC, said AFRY’s LNG-to-power experience supported its selection. He also cited AFRY’s technical advisory capabilities, regional presence and understanding of local conditions.
Meanwhile, Rishi Agrawal, AFRY’s Global Director for LNG and LNG-to-Power Solutions, confirmed the company’s involvement. He said the assignment would strengthen AFRY’s presence in Southeast Asia.
Thai Binh LNG Project Covers Offshore and Onshore Infrastructure
Thai Binh LNG covers an approximately 269-hectare development in northern Vietnam. Around 212 hectares of the project area lie offshore.
The development includes an offshore LNG receiving terminal and a 1.5GW natural gas-fired power plant. Its scope also covers LNG procurement and electricity sales to Vietnam Electricity, the country’s state utility.
Thai Binh LNG Power Joint Stock Company serves as the project company. Tokyo Gas established the company with Kyuden International and Truong Thanh Viet Nam Group.
The project company was established in January 2024 to conduct the LNG-to-power development. Its original project location was in Thai Binh province. However, the location now falls within Hung Yen following Vietnam’s administrative changes.
Construction began in October 2025, according to current project reporting. The developers target full commercial operation during the fourth quarter of 2029.
The project therefore combines LNG procurement, receiving, regasification and power generation within one development. Kyuden describes it as its first overseas project covering LNG procurement through regasification and power generation.
The project also reflects wider investment in gas-fired power generation across Asia. Taiwan is pursuing a similar large-scale expansion at the Tung Hsiao Power Plant through a $5.2 billion contract involving CTCI and Mitsubishi Power.
Thai Binh LNG Project Targets 1.5GW Generation Capacity
The planned power plant will use combined-cycle gas turbine technology and have 1.5GW capacity. The floating LNG facility will supply natural gas to the generating plant.
The project forms part of Vietnam’s expansion of LNG infrastructure and electricity generation capacity. Northern Vietnam has faced increasing electricity demand alongside broader economic growth.
The developers intend to sell electricity generated by the project to Vietnam Electricity. Therefore, the scheme combines imported LNG infrastructure with domestic power generation and electricity supply.
AFRY’s technical advisory role will cover the interfaces between the offshore LNG facilities and the power plant. Its scope includes the marine, subsea and onshore infrastructure required by the integrated development.
The appointment does not disclose AFRY’s contract value or any construction contractor appointments. Consequently, those details remain unavailable from the published project information.
Project fact sheet
Project: Thai Binh LNG-to-Power Project
Location: Thai Thuy District, Hung Yen Province, Vietnam
Previous administrative location: Thai Binh Province
Value: Approximately $2.69 billion
Generation capacity: 1.5GW
Power generation technology: Natural gas-fired combined-cycle generation
LNG facility: Offshore LNG receiving terminal
LNG vessel infrastructure: Floating LNG receiving terminal
Gas transportation: Subsea gas pipeline systems
Mooring infrastructure: Submerged Yoke Mooring system
Marine infrastructure: Marine facilities
Offshore work: Offshore surveys
Project area: Approximately 269 hectares
Offshore area: Approximately 212 hectares
Project Company: Thai Binh LNG Power Joint Stock Company
Electricity buyer: Vietnam Electricity (EVN)
Project scope: LNG procurement, infrastructure development, power generation and electricity sales
Construction start: October 2025
Target commercial operation: Fourth quarter of 2029
Current advisory appointment: AFRY as International Technical Adviser
AFRY advisory scope: Offshore and onshore infrastructure
Main offshore connection: Floating LNG receiving terminal to 1.5GW power plant
Status of the project: Under development and construction
Project team
Project Company: Thai Binh LNG Power Joint Stock Company
International Technical Adviser: AFRY
Shareholder:
- Tokyo Gas — 40%
- Kyuden International — 30%
- Truong Thanh Viet Nam Group — 30%
Electricity buyer: Vietnam Electricity (EVN)
Offshore technical adviser: AFRY
LNG infrastructure technical adviser: AFRY
Power plant technical adviser: AFRY
LNG procurement entity: Thai Binh LNG Power Joint Stock Company
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