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

Venture Global Inc. slashed the marketed range for its initial public offering, lowering the market value it could fetch.

By Manya Saini (Reuters) -LNG exporter Venture Global on Wednesday slashed the valuation it was seeking from its U.S. initial public offering to as much as $65.33 billion, significantly lower than the more than $100 billion it had initially aimed.

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