3) The extremely cheap price of natural gas has motivated the chemical industry to focus increased production in the U.S., due to this element's cost advantages. Overseas, natural gas prices are averaging four to five times that of the U.S. While such natural gas producers as Chesapeake Energy and Exxon Mobil are rapidly anticipating the conversion of natural gas to liquids (LNG), this is awaiting conversion capability development, as well as shipping ports, such as in Freeport, Texas, already underway for international export. These developments likely will move the future price of natural gas well above the present lows, which have stimulated major demand additions. However, such price gains will likely not become exorbitant enough to cause prospective exporters of liquefied natural gas to curb anticipated projects. Instead, they will likely double or possibly triple the present natural gas pricing levels — still well below the prices now paid for this fossil fuel in Europe and East Asia.