GSE has identified the need for a robust assessment of the role underground hydrogen storage can play in the European energy transition. This study has two key objectives: Identification and description of the values of underground hydrogen storage, and notably the identification of services that are specific to hydrogen storage, Quantitative evaluation of the benefits brought by underground hydrogen storage in a series of four territorial use-cases. The results of this study can inform the design of policy recommendations, and their respective priorities, to support the emergence of underground hydrogen storage that can help kick-start the hydrogen ecosystem.