In modern times, worldwide requirements to curb greenhouse gas emissions, and increment in energy demand due to the progress of humanity, have become a serious concern. In such scenarios, the effective and efficient utilization of the liquified natural gas (LNG) regasification cold energy (RCE), in the economically and environmentally viable methods, could present a great opportunity in tackling the core issues related to global warming across the world. In this paper, the technologies that are widely used to harness the LNG RCE for electrical power have been reviewed. The systems incorporating, the Rankine cycles, Stirling engines, Kalina cycles, Brayton cycles, Allam cycles, and fuel cells have been considered. Additionally, the economic and environmental studies apart from the thermal studies have also been reviewed. Moreover, the discussion regarding the systems with respect to the regassification pressure of the LNG has also been provided. The aim of this paper is to provide guidelines for the prospective researchers and policy makers in their decision making.