Venture Global is seeking up to $110.38 billion valuation in its New York initial public offering, the second-largest U.S. liquefied natural gas producer said on Monday, setting the stage for the first blockbuster stock market flotation in 2025.

The energy industry is set to stage a comeback in the US initial public offerings market, with sizable deals springing up after the worst year since 2003.

PIMCO Dynamic Income Strategy Fund moved away from its Energy focus in 2024 but still holds about 50% in the sector, including pre-IPO shares of LNG

Venture Global, one of the biggest US liquefied natural gas exporters, is seeking to go public at a valuation of $110bn, as the industry readies for a potential boom in fuel shipments under the Donald Trump administration.

There's plenty to chew on in Venture Global's IPO filing beyond just the topline numbers. Why it matters: The U.S. LNG exporter hopes to raise up to $2.3 billion in what would be the largest energy IPO in over a decade.