AFRY secures advisory role for $2.69 billion Vietnam LNG project

Swedish engineering and consultancy firm AFRY has been appointed as the international technical advisor for the 1.5 GW Thai Binh LNG-to-power project in Hung Yen province, Vietnam. Valued at approximately $2.69 billion, the project involves an integrated development featuring a floating LNG (FLNG) terminal and a combined-cycle gas-fired power plant.

AFRY’s scope of work includes technical advisory services for both offshore and onshore infrastructure. This encompasses LNG receiving facilities, subsea gas pipeline systems, marine facilities, offshore surveys, and submerged yoke mooring. The project is owned by a partnership between Japan’s Tokyo Gas and Kyuden International, alongside Vietnam’s TTVN Group.

The development is expected to generate between six and ten billion kilowatt-hours of electricity annually to support Vietnam’s rising electricity demand and reduce coal dependence. While construction formally began in October 2025, the developers previously sought to postpone commercial operations due to challenges in securing gas turbines and finalizing financing arrangements.