Venture Global Inc. slashed the marketed range for its initial public offering, bringing the potential valuation well below its $110 billion target.

Venture Global is the second-largest exporter of liquefied natural gas, or LNG, in the United States, and one of Trump's first moves after his inauguration was to sign an executive order to end a moratorium on new LNG export permits, which clears an obstacle to Venture Global's expansion plan.

Liquefied natural gas producer Venture Global slashed the proposed range for its IPO on Wednesday, lowering the valuation it sought to ~$65B from the initial target of $110B at the top of the previous range.

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.