Drastic measures are required in the transformation of the European economy towards climate neutrality, and hydrogen is expected to play an integral part in the decarbonization process, with a political climate growing in favor towards the expansion of hydrogen-based technologies. This master’s thesis investigates the techno-economic and strategic feasibility of Underground Hydrogen Storage (UHS) by examining the interdependencies between geological suitability, macro environmental drivers, and economic performance. As hydrogen becomes a central pillar of the clean energy transition, the ability to store large quantities safely, reliably, and cost effectively is essential. The study addresses this need by evaluating three major geological formations; salt caverns, depleted gas reservoirs, and saline aquifers and identifying the factors that influence their performance as long duration hydrogen storage systems.