On the flipside, water is used for the periodic pressure testing of scuba tanks, precisely because it is essentially incompressible. So if a tank does blow up during testing, you have a very small expansion and thus very small energy release.

If you draw a curve of gauge pressure as a function of volume, the energy release is the area under the curve, and as the curve steepness goes to infinity (i.e. compressibility goes to zero) the energy released starting at a given pressure goes to zero.