Abstract: In the context of promoting the market-oriented reform of natural gas and the transformation of gas storage to independent operation, it is necessary to design gas storage products that meet the conditions of natural gas industry in China. Herein, the design modes of gas storage products suitable for the conditions of China were proposed from the point of the degree of freedom for injection/withdrawal by analyzing the basic theory on design and the desired form of gas storage products in China. Meanwhile, the premium mechanism of gas storage products and the physical constraints were discussed. Due to the financial value given by the capacity of capturing gas price fluctuation, the gas storage products should have a premium rate controlled by their quantified financial values. A series of gas storage products with different degree of freedom for injection/withdrawal were designed from temporary product to day-ahead product. With the increasing of degree of freedom for injection/withdrawal, the premium rate and the deployment difficulty are also increased. The results show that diversified products should be provided for high marketization degree while relatively simple products should be provided for low marketization degree. Salt cavern storage has the advantage of financial value due to its flexibility, but such advantage could not be presented in the market with low marketization degree. The ratio of various products should be determined by prediction of the gas storage on customer requirements. Generally, this research results could provide a theoretical basis for the gas storage product design during natural gas marketization.