Arlington, Virginia-based LNG exporter Venture Global is targeting up to $110.38 billion valuation in its U.S. initial public offering (IPO) in 2025. The company is seeking to raise up to $2.3 billion in one of the biggest energy IPOs in the New York Stock Exchange for more than a decade. ConocoPhillips’ (NYSE:COP) $4.4B offering in 1998 remains the biggest IPO in the energy sector to-date, with Kinder Morgan’s (NYSE:KMI) $3.3 billion flotation in 2011 coming second. If successful, Venture Global will be more than twice as valuable as Cheniere Energy (NYSE:LNG), the largest public LNG company currently with a market cap of $50.5B.
Last month, Venture Global commenced LNG production at its Plaquemines LNG plant 30 months after the final investment decision (FID) was made, making the plant with a 20 mtpa nameplate capacity one of the two fastest greenfield projects to reach first production. Once fully operational, Plaquemines will be among the largest LNG facilities in the world, featuring 36 electrically-driven 0.626 million tonnes per annum (mtpa) liquefaction trains, configured in eighteen blocks.
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“Reaching first LNG at Plaquemines at this pace will enable the United States to remain the top exporter of LNG in the world. Between current and planned facilities, Venture Global is prepared to invest $50 billion in energy projects based in the United States which will create jobs, support local economies, strengthen the balance of trade and unleash much needed US LNG supply to our allies,” remarked Venture Global CEO and Co-Founder, Mike Sabel.
