Ukraine’s gas storage facilities account for a total capacity of around 34 bcm or 21% of the total European gas storage working capacity. In the frame of the January 2006 gas agreement, which specified the terms of gas deliveries to Ukraine, the monopoly gas importer to Ukraine RosUkrEnergo has been granted a tariff of USD 2.25 per tcm for storing up to 15 bcm in Ukraine. Both, the level of this tariff as well as the concession to keep it unchanged until 2030 have received fierce criticism. In this note we intend to provide a first judgment of this tariff level.