LNG pure-play Venture Global's IPO tests appetite for energy stocks under Trump administration

IPO Details - Venture Global priced its IPO at $25 per share, offering 70 million shares to raise$1.75 billion, resulting in a total valuation of $60.5 billion [2] - The IPO valuation is significantly lower than the original target of$110 billion, which was based on offering 50 million shares at $40-$46 per share [3] - This IPO is the largest by an oil and gas company in a decade and the fourth largest since 2000 [3] - At $60.5 billion valuation, Venture Global would rank as the tenth largest publicly traded energy company [3] Company Position - Venture Global is currently the second-largest LNG exporter in the US, behind Cheniere [2] - The company is engaged in arbitration with customers, including Shell, regarding contracted deliveries from its Calcasieu Pass plant in Louisiana [4] Industry Context - The Trump administration has expressed strong support for growing LNG exports [2] - President Trump declared a national energy emergency and overturned the Biden administration's pause on new LNG export projects, removing potential obstacles for Venture Global's growth [4] - Natural gas prices have risen 44% since Trump's election, driven by his policies, cold winter weather, and expected robust demand from artificial intelligence [5] - Cheniere shares have climbed more than 20% since Trump's election, indicating positive market sentiment for energy stocks [5]