Underground Natural Gas Storage (UNGS) allows to store the surplus of gas production during low consume seasons (summer) and withdraw it during high demand periods (winter). They complement the development of gas fields (e.g. Vaca Muerta unconventional play) and optimize the transport capacity in main pipelines, increasing their use in summer for the UNGS filling and supplying specific markets in winter. Thus, they constitute the most effective and economic way to support peak demand. There is one UNGS in Latin America, which was established in 2001 and belongs to YPF: Diadema (Golfo San Jorge Basin, Argentina). Using the expertise gained in its development and operation, YPF started the studies in order to search new potential sites to convert to UNGS in Neuquén Basin, Argentina. This work focuses in the analysis of the Rojo Horizon, one of the gas-bearing layers of Rayoso Formation, as a potential reservoir for gas storage. For that purpose, a data acquisition plan, involving petrophysical and geomechanical laboratory tests in well cores, well logging, extended pressure test and continuous well pressure monitoring, was carried out. Based on the information acquired, the formation was evaluated with a multidisciplinary perspective, including the elaboration and calibration of static, dynamic, petrophysical and geomechanical models. The results of the volumetric analysis show that the Rojo Horizon has a working gas capacity of 250 Mm3 (million cubic meters), equal to 3 LNG carriers. Considering trap characteristics, seal efficiency, reservoir petrophysical properties and appropriate volumetric parameters, it is concluded that Rojo Horizon fulfills the technical requirements to be satisfactorily converted into an Underground Natural Gas Storage.