Abstract: A power conversion system comprising a combination of a liquefied natural gas vaporizing plant and a fuel burning power generating facility is disclosed. The liquefied natural gas vaporizing plant utilizes the cryogenic capacity of the liquefied natural gas to produce liquid air which is pumped to a high pressure by a liquid air pump. The liquid air is then brought into a heat exchanging relationship with air drawn into the vaporizing plant so that the high pressure liquid air is converted to high pressure gaseous air. The high pressure gaseous air which represents recovered reversible energy of the liquefied natural gas is fed into a combustion chamber of the fuel burning power generating plant. Since the power generating facility requires no significant output of power to drive a compressor to compress ambient air prior to its entry into the combustion chamber, the power generating facility is operated at a high efficiency.