Liquefied natural gas (LNG) is one of the most influential fuels of the 21st century, especially in terms of the global economy. The demand for LNG is forecasted to reach 400 million tonnes by 2020, increasing up to 500 million tonnes in 2030. Due to its high mass and volumetric energy density, LNG is the perfect fuel for long-distance transport, as well as for use in mobile applications. It is also characterized by low levels of emissions, which is why it has been officially approved for use as a marine fuel in Emission Control Areas (ECAs) where stricter controls have been established to minimize the airborne emissions produced by ships. LNG is also an emerging fuel in heavy road and rail transport. As a cryogenic fuel that is characterized by a boiling temperature of about 120 K (−153 °C), LNG requires the special construction of cryogenic mobile installations to fulfill conflicting requirements, such as a robust mechanical construction and a low number of heat leaks to colder parts of the system under high safety standards. This paper provides a profound review of LNG applications in waterborne and land transport. Exemplary constructions of LNG engine supply systems are presented and discussed from the mechanical and thermodynamic points of view. Physical exergy recovery during LNG regasification is analyzed, and different methods of the process are both analytically and experimentally compared. The issues that surround two-phase flows and phase change processes in LNG regasification and recondensation are addressed, and technical solutions for boil-off gas recondensation are proposed. The paper also looks at the problems surrounding LNG installation data acquisition and control systems, concluding with a discussion of the impact of LNG technologies on future trends in low-emission transport.