
Gas exporter Venture Global is planning what would be the energy industry's largest initial public offering in more than a decade on the heels of Donald Trump's inauguration. The timing couldn't be better.
The Arlington, Va.-based firm, which chills natural gas into liquid to ship overseas, said in a recent regulatory filing that it hopes to raise up to $2.3 billion from an IPO. The issuance would peg the LNG company's value at as much as $110 billion-more than the market capitalization of British oil giant BP.
The listing on the New York Stock Exchange could take place this week, said people familiar with the matter, and planning for it began before the election. It is sure to attract investors seeking to capitalize on Trump's pro-oil-and-gas agenda.
Following his swearing-in Monday, Trump plans to take a spate of executive actions to boost the fossil-fuel industry, including lifting a freeze on new LNG exports that President Biden imposed last year. Reversing the ban would free Venture Global's hands to continue a building spree to produce more LNG in Louisiana, where it already runs two huge terminals.
" Brilliant timing on their end," said Timm Schneider, a veteran energy analyst. "Everything's kind of falling into place for them."
Venture Global also has made inroads with the new administration. Chief Executive Michael Sabel attended an April meeting of oil-and-gas bosses at Mar-a-Lago, and the company employs former Trump officials. The company is a top donor to Trump's presidential inauguration with a $1 million donation, according to people familiar with the matter.
This story is from the January 21, 2025 edition of The Wall Street Journal.
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This story is from the January 21, 2025 edition of The Wall Street Journal.
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