Abstract: Based on the analysis of safety status and the statistic of accidents of LPG storage tanks, with SAFETI in the DNV quantitative risk analysis software, the hazard of LPG and the putential hazard of fire and explosion in LPG storage tanks are analyzed, the types of fatal accidents such as jet fire, fireball, BLEVE and VCE, which are likely to happen are summed up, and the relevant models in SAFETI software are used for the quantitative assessment for fatal accident consequence in a LPG process storage area, the consequence models of accidents are established, the consequences of fatal accidents are forecasted and simulated exactly, the simulation results of hazard degree of accident including graphs and reports are acquired, which have significant engineering application value and will be good guidance to take effective measures for forecasting and preventing accidents.