Venture Global LNG Plans to Raise $3 Bln From U.S. IPO, Sources Say

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Venture Global LNG is planning to raise about $3 billion from its initial public offering in New York that could come as soon as this year, according to people familiar with the matter.

Venture Global is working with banks, including Goldman Sachs and JPMorgan Chase, on the listing plans, the people said.

The Arlington, Virginia-based company is one of the biggest suppliers of liquefied natural gas in the United States.

Earlier this month, federal regulators gave Venture Global LNG the permission to introduce natural gas into its Plaquemines export plant in Louisiana, bringing the facility closer to producing the superchilled gas.

Once it hits commercial startup, the company’s Plaquemines export plant will make Venture Global the second-largest U.S. LNG producer with the capacity to export over 30 million metric tons per annum (MTPA) from its Calcasieu Pass and Plaquemines facilities, both in Louisiana.

A potential $3 billion IPO by Venture Global would be among the year’s biggest listings globally, according to data compiled by LSEG.

Venture Global did not immediately respond to a request for comment. Goldman Sachs declined to comment.

Cold storage giant Lineage’s $4.44 billion New York IPO in July and Hyundai Motor India’s $3.33 billion Mumbai IPO last month are the only listings that have raised over $3 billion this year, LSEG data showed.

Bloomberg News reported the development earlier in the day.

In September, natural gas producer BKV Corp also went public in New York after raising $270 million in its U.S. IPO.

(Writing by Arasu Kannagi Basil in Bengaluru; additional reporting by Curtis Williams in Houston; editing by Alan Barona)