AFRY Takes Offshore Technical Role in Vietnam’s $2.7 Billion LNG-to-Power Project

Swedish engineering group AFRY has joined the $2.69 billion Thai Binh LNG-to-power project in northern Vietnam as an international technical adviser, taking responsibility for several critical offshore and marine components.

The project combines LNG import infrastructure with a 1.5 GW power plant, with commercial operations targeted for the fourth quarter of 2029.

AFRY to Advise on Floating LNG Infrastructure

AFRY’s assignment covers much of the project’s offshore LNG receiving system. Its responsibilities include technical work on the floating LNG receiving terminal, subsea gas pipeline, offshore mooring system and marine facilities.

The company will also support offshore surveys and provide technical expertise for the associated combined-cycle gas turbine power plant.

A key part of the infrastructure will be the connection between the floating LNG terminal and the power station in Hung Yen province. LNG received offshore will ultimately supply the power-generation facility through the subsea gas transmission system.

The project therefore brings together several areas of maritime and energy infrastructure—from floating LNG operations and mooring systems to subsea pipelines and marine logistics.

Integrated LNG-to-Power Development

Thai Binh LNG Power is owned by a consortium comprising Tokyo Gas (40%), Kyuden International (30%) and Vietnam’s Truong Thanh Viet Nam Group (30%).

Construction began in October last year, with the developers targeting full commercial operation in Q4 2029.

The overall development spans approximately 269 hectares, of which around 212 hectares are offshore.

Rather than developing LNG import infrastructure separately from the power station, the sponsors are building an integrated supply chain covering LNG procurement, import and receiving infrastructure, electricity generation and power sales.

Electricity generated by the project is intended to be sold to Vietnam’s state utility, EVN.

The value of AFRY’s technical advisory contract has not been disclosed.

Why this matters

• Floating LNG becomes increasingly important: Projects such as Thai Binh demonstrate how floating infrastructure can provide LNG import capacity without relying entirely on large onshore terminals.
• More demand for marine expertise: Floating terminals, subsea pipelines, mooring systems and offshore surveys require specialist maritime engineering and operational knowledge.
• Vietnam’s energy infrastructure is evolving: Large LNG-to-power projects are becoming part of the country’s strategy to expand and diversify electricity generation capacity.
• Shipping and energy sectors are converging: LNG carriers, floating terminals, offshore support vessels and subsea infrastructure will all play roles in the wider LNG supply chain.

The Thai Binh development illustrates how modern LNG projects increasingly extend beyond the power plant itself, with significant engineering challenges taking place offshore.

For maritime operators and technology providers, the growth of floating LNG infrastructure could create opportunities well beyond traditional LNG shipping.