Western Europe including Germany, Spain and the Netherlands in particular, witnessed a considerable wave in gas storage construction in the recent years. Investment decisions were backed by the assumption of an increasing gas demand and the growing role of gas storage in a liberalised market environment. Today, investments aim not only to balance the traditional seasonal fluctuations of demand but also to manage peak periods in a flexible way. The domestic gas storage market, having lacked any significant investment until recently, is dominated by E.ON. This situation, however, will change in the near future due to the new gas storage capacities under construction and planned. Using basic market analysis tools, we analyse the chance for effective competition on the domestic gas storage market.