Venture Global LNG is planning to raise approximately $3bn through an initial public offering (IPO) in New York, a move that could materialise this year, reported Reuters, citing sources familiar with the matter.
The Arlington, Virginia-based company, a supplier of LNG in the US, is collaborating with banks such as Goldman Sachs and JPMorgan Chase for the listing.
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Earlier this month, federal regulators authorised Venture Global LNG to introduce natural gas into its Plaquemines export plant in Louisiana.
This approval marks a significant step towards the production of superchilled gas at the facility.
Once attaining commercial operations, the Plaquemines export plant will boost Venture Global to the position of the “second-largest LNG producer” in the US, with a combined export capacity of more than 30 million tonnes per annum (mtpa) from its Calcasieu Pass and Plaquemines facilities in Louisiana, reported the news agency.
Venture Global’s potential $3bn IPO could rank among the largest global listings of the year, as per the London Stock Exchange data.
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By GlobalDataThe only listings surpassing the $3bn mark this year include Lineage’s $4.44bn IPO in New York in July and Hyundai Motor India’s $3.33bn IPO in Mumbai last month.
In March 2023, Venture Global LNG sanctioned phase two of the Plaquemines LNG export project following a $7.8bn financing agreement.
The company raised nearly $21bn in funding for both phases of the export facility.
In September 2024, Venture Global entered into a partnership with GASTRADE, securing a long-term agreement to supply LNG to central and eastern Europe.
This deal included securing approximately 1mtpa of regasification capacity at Greece’s Alexandroupolis LNG terminal, representing around 25% of the terminal’s total capacity and equating to around 12 cargoes annually.
