A method of liquid air energy storage is provided. This method includes liquefying and storing air to form a stored liquid air during a first period of time; during a second period of time, introducing a compressed air stream into a cryogenic system, wherein the cryogenic system comprises at least one cold compressor, and at least one heat exchanger. The method includes producing a first exhaust stream and a second exhaust stream. The method also includes vaporizing at least part of the stored liquid air stream in the heat exchanger, thereby producing a first high pressure compressed air stream, then combining the first high pressure compressed air stream, the first exhaust stream and the second exhaust stream to form a combined exhaust stream, heating the combined exhaust stream, then expanding the heated combined exhaust stream in an expansion turbine to produce power.