In the natural gas pressure regulation station, high pressure natural gas is decompressing using pressure regulation valves. Waste pressure occurred in the pressure regulation process can be recovered through adopting turbo expanders. However, in the waste pressure recovery process, Joule Thompson effect causes below $0^{circ}C$ and this low temperature freezes outside land of pipeline or generates methane hydrate in the pipeline which can block the pipeline. Therefore, turbo expander systems are accompanying with a boiler for preheating natural gas. Molten carbonate fuel cell (MCFC), one of the high temperature fuel cell, can use natural gas as a direct fuel and is also exhausting low emission gas and generating electricity. In this paper, a thermodynamic analysis on the hybrid MCFC-turbo expander system is conducted. The fuel cell system is analyzed for the base load of the hybrid system.