One of the most important roles for an integrated gas company operating in a traditional, managed gas market is to ensure that demand and supply is balanced in the most cost effective, reliable manner. Gas storage has long been seen as key to achieving this. As gas markets liberalise this balancing requirement remains in place, but the role of storage has widened as company activities are unbudled and new players enter the market. The author examines how the role of storage has evolved in the European market and looks at future trends as competition develops.