(Reuters) - Venture Global LNG is preparing to cut the proposed price range for its blockbuster initial public offering and increase the number of shares it may sell to investors, a source with direct knowledge of the matter said on Tuesday.

Under the revised IPO plan under consideration, Venture Global would still raise a similar amount from investors, but the lower prospective price means the company will have to sell more shares to do so.

The company is considering a new price range of between $32 and $38 per share, versus its initial guidance of between $40 and $46 per share, according to the source, adding Venture Global may now sell as many as 62 million shares in the proposed New York flotation, compared with its original plan of 50 million shares.

The source cautioned the decision on revising the IPO plan was not guaranteed. The source spoke on condition of anonymity to discuss confidential deliberations.

Venture Global did not immediately respond to a request for comment.

The Arlington, Virginia-based company said on Jan. 13, when launching the IPO, it would seek to raise up to $2.30 billion from the listing.

At the top of the new proposed price range, along with the updated volume of shares, Venture Global would now raise as much as $2.36 billion, according to Reuters calculations.

(Reporting by Echo Wang in Davos; Additional reporting by Curtis Williams in Houston; Writing by David French in New York; Editing by Sandra Maler and Muralikumar Anantharaman)