Michael Smith brought in major investors for his Freeport facility. Construction began at both sites. By 2007, dozens more regasification projects were being proposed by other groups. In 2008, natural gas prices reached a high point of almost $9 per thousand cubic feet, providing further “proof” of a shortage and thus increased urgency to import LNG. Yet by 2008, skepticism was emerging about the financial strength of Cheniere, and its stock price was falling. Souki himself was becoming depressed about the prospects for his business as he kept reading and hearing about more new gas discoveries
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