The paper analyzed the natural gas sector in Ukraine for the period 2000 to 2018. This sector was affected by external factors, such as the crisis which began in late 2008/2009, as well as internal factors, including the situation in Ukraine after 2013 (the Annexation of Crimea). A comparative analysis was also conducted of the natural gas sector in European Union countries and Ukraine – compared the specificity of natural gas consumption in 2018. The analysis (I) examined the demand for natural gas in Ukraine between 2000 and 2018; (II) described changes in sources to cover Ukraine’s gas needs with a particular emphasis on its own production; (III) pointed to the fundamental changes that have occurred in the natural gas supply routes to the Ukrainian sector in recent years; (IV) stressed the growing role of own production in balancing Ukraine’s gas needs; (V) described the role of Ukraine as a transit country for Russian gas to be delivered to EU countries (in recent years, the volume of natural gas transmitted via the Ukrainian transmission system has been around 90 bcm annually); and (VI) looked at the structure of natural gas consumption in the Ukrainian gas sector and how it has changed in recent years. Unlike EU countries, the growing role of own production in balancing Ukraine’s natural gas needs was emphasized, which is consistent with the strategy of the Ukrainian government. Also, attention was drawn to the threats that may significantly reduce the role of Ukraine as an important transit country. The paper also puts forward the most important parameters concerning the underground natural gas storage facilities in Ukraine which is one of the largest in Europe.