With the widespread application of lithium-ion batteries (LIBs) energy storage stations in high-altitude areas, the impact of ambient pressure on battery thermal runaway (TR) behavior and venting flow characteristics have aroused wide research attention. This paper conducts a lateral heating experiment on 280 Ah lithium iron phosphate batteries (LFPs) and proposes a method for testing battery internal pressure using an embedded pressure sensor. This paper analyzes the battery characteristic temperature, internal pressure, chamber pressure, and gas components under different chamber pressures. The experiment is carried out in a N2 atmosphere using a 1000 L insulated chamber. At 40 kPa, the battery experiences two instances of venting, with a corresponding peak in temperature on the battery’s side of 136.3 °C and 302.8 °C, and gas generation rates of 0.14 mol/s and 0.09 mol/s, respectively. The research results indicate that changes in chamber pressure significantly affect the center temperature of the battery side (Ts), the center temperature of the chamber (Tc), the opening time of the safety valve (topen), the triggering time of TR (tTR), the time difference (Δt), venting velocity, gas composition, and flammable limits. However, the internal pressure and gas content of the battery are apparently unaffected. Considering the TR characteristics mentioned above, a safety assessment method is proposed to evaluate the TR behavior and gas hazard of the battery. The results indicate that the risk at 40 kPa is much higher than the other three chamber pressures. This study provides theoretical references for the safe use and early warning of energy storage LIBs in high-altitude areas.