To produce power using the cold in a stored fluid in a cold condensed state (for example, LNG or liquid air), the fluid is initially pumped, heated, and expanded to generate a first amount of power and form initially expanded fluid, which is then re-condensed, re-pumped, re-heated, and re-expanded to generate a second amount of power, where the initially expanded fluid is re-condensed against the pumped fluid from the initial pumping. The technique can be used to store excess energy in the cold condensed fluid using excess energy generation capacity for subsequent recovery when energy is either deficient or otherwise more expense to generate.