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As a diversion from what could happen to what is happening. Lots of LNG capacity going into construction. From the March '05 issue of Hydrocarbon Processing:

1. ConocoPhillips has submitted a construction application to build a new offshore LNG facility in federal waters 56 miles south of the Louisiana coast to offload imported LNG. Capacity will be 1.5 billion cfd. Completion in 2010.

2. Jacobs Engineering will work the environmental portion of the Refinery Conversion Project at Petro-Canada’s refinery near Edmonton, Alberta. Once complete, the refinery will process bitumen and bitumen derived crude instead of conventional crude.

3. Sempra Energy has a contract for engineering, procurement, and construction on the Cameron LNG regasification terminal in Louisiana. The facility will process 1.5 billion cfd of gas and cost $700 million. Completion in 2008.

4. Flint Hills Resources is spending $100 million in capital at its Minnesota refinery. Crude oil capacity will increase by 50,000 bpd.

5. CB&I has a contract with Dominion Cove Point LNG for a LNG terminal expansion project near Lusby, Maryland. Capacity will increase from 1 billion cfd to 1.8 billion cfd. Completion is expected late 2008.

6. Sabine Pass LNG has a contract with Bechtel Corp. for the construction of the Sabine Pass LNG facility in Louisiana. Capacity is 2.6 billion cfd. Cost is $647 million. Completion early 2008.

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CBI is also building the Sakhalin II Project in Russia.... it represents represents the largest single foreign direct investment project in that country to date. My father is on the design team for the terminal.