Venture Global is now seeking a more reasonable valuation of about $65 billion, versus earlier plans for about $110 billion.

Venture Global LNG on Wednesday slashed the valuation it sought from a U.S. initial public offering to $65.33 billion, significantly lower than the initial target of $110 billion. The revision by the second-largest exporter of liquefied natural gas in the United States follows days of marketing to potential investors,

The company plans to increase its share offering from 50 million to up to 62 million in its potential New York flotation.

An open letter Wednesday signed by 126 non-governmental organizations urged public and private lending institutions to end financing for a Mozambique liquified natural gas facility being built by France's TotalEnergies.

TotalEnergies' $20 billion Mozambique LNG project will not be operational by 2029 as hoped, the French oil major said on Wednesday, citing the need to end force majeure and ensure security at the project site.

TotalEnergies has further delayed its troubled $20bn liquefied natural gas project in Mozambique as security concerns and political uncertainty dog one of Africa’s biggest energy investments. The LNG development,