Gulf Coast producer’s share listing expected to be among biggest in sector
Venture Global is set to start producing liquefied natural gas at its second giant plant on the US Gulf coast within days, as the company prepares to float in one of the US’s largest energy listings. The LNG developer, which is engaged in a bitter stand-off with Shell and BP, this week received key regulatory approvals required to turn on its Plaquemines facility in Louisiana, said people familiar with the matter.
The Plaquemines opening comes as the company prepares to raise $3bn to $4bn in one of the largest flotations this year, said people familiar with the plans. JPMorgan, Goldman Sachs and Bank of America are advising it. A fundraising on that scale would be among the largest US energy listings, according to Bloomberg data. The last energy group to raise a similar sum was pipeline operator Plains GP’s $2.9bn deal in 2013.
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