In the petrochemical industry, the liquefied petroleum gas (LPG) and the liquefied natural gas (LNG) are widely used. For the multifarious risks associated with the fire or explosion in the process of traffic and storage, the management in the petrochemical industry is very strict. The safety assessment based on the quantified risk analysis (QRA)is used in the safety management. To the characteristics of petrochemical industry, the process and method of the quantified risk analysis is introduced. Take the management of LPG and LNG of HongKong government for example, the effect of the risk analysis and safety assessment in the safety management is obvious.