"The Trump administration has made very clear they support growing LNG exports," Venture CEO Mike Sabel told CNBC in an interview Friday.

Venture Global Inc. shares slipped 3.8% in the natural gas exporter’s debut as a public company, after slashing its price target ahead of its IPO.

Energy company Venture Global prices 70 million shares at $25 — the middle of its reduced $23-$27 price range.

Key Takeaways Shares of liquefied natural gas exporter Venture Global debuted Friday below their initial public offering price of $25 per share.The company generated $1.75 billion by pricing 70 million shares in the middle of its $23 to $27 range.

Liquefied natural gas exporter Venture Global said on Thursday it had raised $1.75 billion, marking the first big initial public offering of President Donald Trump's second term as investors bet on his plan to boost U.

At $23 a share — the new low end of Venture Global’s IPO price range — the company would be valued at about $56bn, on par with Cheniere Energy, the largest LNG producer and exporter in the US.

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

Venture Global LNG was forced to nearly halve the valuation it is seeking in its U.S. initial public offering (IPO) after investors balked at the company's estimated long-term profit for liquefying gas for export,

Venture Global Inc. raised $1.75 billion in its initial public offering, pricing its shares in the middle of a marketed range.Most Read from BloombergWhat Happened to Hanging Out on the Street?How Sanctuary Cities Are Preparing for Another Showdown With TrumpBillionaire Developer Caruso Slams LA Leadership Over WildfiresTexas HOA Charged With Discrimination for Banning Section 8 RentersHoboken PATH Station Will Close for Almost a Month on Jan.

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