Standard change free Gibbs energy of reaction determine constant of reaction K and therefore direction of reaction.
K=exp(-ΔoGr/RT)
ΔGr=ΔoGr+zi*RT*ln(pi) eg. in gas-phase reaction
ΔGr=0 - equilibrium
ΔGr>0 - reaction is thermodynamically limited
ΔGr<0 - reaction can go (in right) if there aren't any others limits (like kinetic or diffusion)