Gasketed bolted flange joints are used in process industry for connecting pressure vessels and pipes. Design procedures available in the literature mostly discuss structural strength, while sealing failure is still a big concern in industries. Similarly, limited work is found in the literature regarding performance of gasketed bolted joints under combined loading. A detailed 3D nonlinear finite element analysis is performed to study the strength and sealing of a gasketed bolted flanged pipe joint under different bolt-up strategy (Industrial and ASME) and under combined internal pressure and axial loading.