Recent research in the liquefied natural gas (LNG) industry has concentrated on reducing specific power consumption (SPC) during production, which helps to lower operating costs and decrease the carbon footprint. Although reducing the SPC offers benefits, it can complicate the system and increase investment costs. This review investigates the thermodynamic parameters of various natural gas (NG) liquefaction technologies. It examines the cryogenic NG processes, including integrating NG liquid recovery plants, nitrogen rejection cycles, helium recovery units, and LNG facilities. It explores various approaches to improve hybrid NG liquefaction performance, including the application of optimization algorithms, mixed refrigerant units, absorption refrigeration cycles, diffusion–absorption refrigeration systems, auto-cascade absorption refrigeration processes, thermoelectric generator plants, liquid air cold recovery units, ejector refrigeration cycles, and the integration of renewable energy sources and waste heat. The review evaluates the economic aspects of hybrid LNG systems, focusing on specific capital costs, LNG pricing, and capacity. LNG capital cost estimates from academic sources (173.2–1184 USD/TPA) are lower than those in technical reports (486.7–3839 USD/TPA). LNG prices in research studies (0.2–0.45 USD/kg, 2024) are lower than in technical reports (0.3–0.7 USD/kg), based on 2024 data. Also, this review investigates LNG accidents in detail and provides valuable insights into safety protocols, risk management strategies, and the overall resilience of LNG operations in the face of potential hazards. A detailed evaluation of LNG plants built in recent years is provided, focusing on technological advancements, operational efficiency, and safety measures. Moreover, this study investigates LNG ports in the United States, examining their infrastructures, regulatory compliance, and strategic role in the global LNG supply chain. In addition, it outlines LNG’s current status and future outlook, focusing on key industry trends. Finally, it presents a market share analysis that examines LNG distribution by export, import, re-loading, and receiving markets.