The safety of technological processes and order of elimination of the emergency situations arising on fire and explosion hazardous objects with availability of flammable liquids and vapours, the reasons and the mechanism of appearance of an emergency situation is considered. The analysis of process of emergence of an emergency situation on potentially hazardous production facility in Russia and St. Petersburg is made. Mechanisms of development of an emergency on the object containing fire and explosion hazardous and easily flammable liquids at various scenarios of passing of an emergency situation are constructed: floods, ignitions and manifestations of secondary dangerous factors. Priority tasks for carrying out effective and safe mitigation of consequences of the arisen emergency situation are designated. The technology and models elimination of an emergency situation on the object containing fire and explosion hazardous and easily flammable liquids on the example of explosion with the subsequent burning of the gas mixture formed in a consequence of evaporation of oil products in reservoir park of Ruchi oil depot in the city of St. Petersburg is developed. Recommendations for the officials controlling actions for elimination of an emergency situation on this object are developed.