Liquefied　natural　gas　(LNG)　is　known　as　a　clean　energy　source　which　is　widely　used　in　electricity　generation　and　daily　living　for　its　friendly　environment　performance.　The　global　LNG　trade　has　increased　rapidly　during　recent　years.　Liquid　natural　gas　delivered　by　sea-ships　contains　considerable　cryogenic　exergy　which　can　be　utilized　for　electricity　production　before　its　evaporation　and　introduction　into　the　system　of　pipelines.　Because　the　need　to　vaporize　LNG　offers　a　thermal　sink　at　a　very　much　lower　temperature　than　seawater,　using　this　thermal　sink　both　power　and　gas　can　be　produced.　So　it　is　possible　to　recover　power　from　the　vaporization　of　LNG.　Based　on　the　exergy　analysis　of　normal　Rankine　power　cycle　and　LNG　gasification　characteristics　at　a　different　pressure,　this　paper　proposed　a　cascading　power　cycle　with　LNG　cold　energy　recovery,　in　which　a　three-tier　Rankine　cycle　system　was　established　to　recovery　the　liquid　heat　and　latent　heat　of　LNG,　and　the　residual　sensible　heat　of　LNG　vapor　can　be　used　to　prepare　the　cold　water　of　central　air-conditioning　in　plant　area.　The　simulating　results　showed　that　the　cascade　power　system　can　improve　the　LNG　cold　energy　recovery　efficiency.　©　2010　by　ASME.