This study comprehensively reviews the current academic literature concerning the safety and risk assessment associated with the utilization of liquefied natural gas (LNG) in ship-to-ship bunkering scenarios. Simultaneously, it explores the complex system of regulations, standards, and guidelines that oversee the thorough evaluation of risks linked to ship-to-ship LNG bunkering procedures. Special attention is given to the scrutiny of legal frameworks that encompass a range of safety considerations, such as storage facilities, transportation, bunkering processes, and the vessels involved in both bunkering and receiving. The research questions are formulated to provide a clear direction and objectives for this study’s journey. The main hazards and risks related to LNG bunkering are identified and analyzed. The legal framework for LNG bunkering risk assessment is analyzed, and opportunities for improvement in these legal documents are identified. The general methodology and procedure for the safety assessment of the LNG bunkering process are summarized and established. From an extensive compilation of scholarly articles, 210 high-quality research papers have been deliberately selected for thorough examination. The research gaps are identified and analyzed. Through this analysis, the highlighted studies and key points are mentioned and analyzed. The research gaps are also outlined to predict the future directions of research on establishing safety zones during LNG ship-to-ship bunkering. Recommendations are made to propose improvements to the legal documents and suggest further research on the establishment of safety zones during ship-to-ship LNG bunkering to relevant authorities.