Abstract: Injection and production capacity of the single well in underground condensate gas storage is mainly influenced by the storage flow capacity and the nature of shaft.The report computes the producing gas equation of the gas well and pressure nodes, determines dynamic relationship curve between the inflow and outflow of the injection and production well.Considering the smallest carrying liquid flow and traffic safety erosion condition, the injection and production capacity of the single well in underground condensate gas storage is computed and main influence factors are analyzed, which provides a scientific basis for the optimal operation of the storage.