Venture Global to Pitch $110 Bln Valuation to IPO Investors Next Week, Source Says

It could be the first major share offering to occur during the second administration of President-elect Donald Trump, who promised on the campaign trail to overturn President Joe Biden’s year-long halt of green-lighting new LNG export licenses.

The company plans to ask investors to pay between $40 and $46 per share when it begins marketing its New York Stock Exchange flotation on Monday, the source said and the document showed.

The preliminary price range, which has not been previously reported, would value the company at $96 billion to $110 billion on a non-diluted basis, which does not include securities such as options and restricted stock units. The 50-million-share offering would bring in between $2 billion and $2.3 billion.

The source noted Venture Global’s final IPO price was dependent upon investor demand and could ultimately fall outside of the range, and cautioned the IPO timing was dependent on market conditions.

Venture Global was not immediately available for comment.

Should the Arlington, Virginia-based company launch its IPO meetings next week, it would likely price its offering during the middle of the week of Jan. 20, the source said.

Dealmakers anticipate a resurgence in global equity capital market activity this year.

Venture Global, founded in 2013 by current co-chairs Michael Sabel and Robert Pender, exports LNG through a process in which gas is cooled into a liquid form for transportation and then exported from the U.S., mainly to Europe and Asia.

The U.S. is the world’s largest exporter of the superchilled gas and has played a crucial role in providing energy to Europe in the wake of Russia’s invasion of Ukraine.

U.S. LNG capacity is expected to more than double between 2024 and 2028, according to the U.S. Energy Information Administration.

Venture Global operates a 10 million metric tonnes per annum (MTPA) facility at Calcasieu Pass, Louisiana, that has been exporting LNG since 2022.

The facility is still being commissioned – the testing and optimizing before commercial operation. The lengthy process has been subject to a legal challenge from customers including Shell, BP and Edison, over the non-receipt of contracted cargoes.

On Dec. 26, its 20 MTPA export facility, Plaquemines, exported its first cargo of the superchilled gas, making it the first new LNG plant to begin operations in the U.S. since 2022.

(Reporting by Echo Wang and David French in New York, and Curtis Williams in Houston; Editing by Peter Henderson and Christopher Cushing)

Share This:


More News Articles

 

  • Related Posts

    Soros to Slim Families Are Plowing Money Into US Shale Oil as Private Equity Retreats

    Ultra-rich families are flocking to the industry, lured by more stable returns after years of boom-and-bust cycles. Oil rigs in the Permian Basin. Photographer: Sergio Flores/Bloomberg By and Once a…

    Trump Vows Completion of Constitution Pipeline For New Yorkers

    Donald Trump speaks during an executive order signing in the Oval Office of the White House on Feb. 14. Photographer: Samuel Corum/Sipa/Bloomberg President Donald Trump vowed to complete the long-stalled Constitution Pipeline…

    Have You Seen?

    India’s Top Power Firm to Invest $62 Billion in Nuclear Capacity

    • February 17, 2025
    India’s Top Power Firm to Invest $62 Billion in Nuclear Capacity

    Global Warming May Be Reducing Wind Speeds in Europe

    • February 17, 2025
    Global Warming May Be Reducing Wind Speeds in Europe

    Trinasolar Receives World’s First UL 61730 2000V Certification for 210R Modules

    • February 17, 2025
    Trinasolar Receives World’s First UL 61730 2000V Certification for 210R Modules

    Soros to Slim Families Are Plowing Money Into US Shale Oil as Private Equity Retreats

    • February 17, 2025
    Soros to Slim Families Are Plowing Money Into US Shale Oil as Private Equity Retreats

    The West Faces Uranium Shortage Amid Competition From China and Russia

    • February 17, 2025
    The West Faces Uranium Shortage Amid Competition From China and Russia

    Kurdistan Set to Resume Oil Exports in March

    • February 17, 2025
    Kurdistan Set to Resume Oil Exports in March

    Russia Claims OPEC+ Has Not Discussed Delaying Its Oil Supply Increase

    • February 17, 2025
    Russia Claims OPEC+ Has Not Discussed Delaying Its Oil Supply Increase

    Chevron Vice Chairman Confirms Job Cuts

    • February 17, 2025
    Chevron Vice Chairman Confirms Job Cuts

    Masdar, TotalEnergies and EPointZero Sign Framework for Action to Drive Clean Energy Access in Africa and Asia

    • February 17, 2025

    LONGi and Erco Energía Win “Outstanding Project Award 2024” for Pioneering Solar Innovation in Colombia

    • February 17, 2025
    LONGi and Erco Energía Win “Outstanding Project Award 2024” for Pioneering Solar Innovation in Colombia