The US LNG exporter Venture Global has announced the pricing of its initial public offering (IPO) of 70 million shares at a public offering price of US$25 per share, valuing the company at US$1.75bn. Venture Global is the second largest LNG producers and exporters in the United States behind Cheniere Energy (valued at over US$52bn), operating the Calcasieu Pass and Plaquemines LNG projects (10 Mt/year each) and developing over 100 Mt/year of liquefaction projects.
The company has benefited from the recent presidential order to end a moratorium on new LNG export permits that the previous US administration had put in place in January 2024 and that hindered Venture Global's expansion plans. However the company is facing contract arbitration cases brought by BP, Repsol or Shell over LNG cargoes exported from the Calcasieu Pass plant, which could cost Venture Global billions of dollars if it loses.