Since LNG (Liquefied Natural Gas) is a combustible cryogenic liquid and as such presents specific safety hazards, the safety of LNG utilization has become an issue that requires a comprehensive study on the risks. Hence, various safety aspects connected with the operation of LNG need to be analyzed. The purpose of this paper is to review recent researchers' LNG safety studies and analysis. Specific safety characteristics of the equipment involved are incorporated in the analysis. The analysis of important risks show that at pressures near atmospheric, the hazards of LNG are comparable to those of conventional liquid fuels such as gasoline. At higher pressures, it behaves more like a combustible gas liquefied by compression. Also reviewed in this paper is the state of the art in modeling important LNG Hazards (like pool and vapor fires modeling). Totally, this paper identifies different possible risks in and out LNG plants and describes the results obtained from modeling of identified issues.