<p>Oil-consuming economies, in particular Indian economy, is increasingly vulnerable to oil and gas supply disruptions, due to heavy import dependence, geopolitical instability and price volatility influenced by oil-producing countries decisions, conflicts and market speculations. Global environmental concerns have also necessitated the use of energy sources that meet climate goals reducing carbon footprints. However, ever-increasing demand of crude oil and gas in developing countries has deliberated on continuous availability of fossil fuels while parallelly working for green energy solutions. Mass scale energy storage solutions inbuilt with internal safety and external security measures is in demand globally, considering higher dependency on energy for a country progress. These requirements necessitate the need for development of large underground storages for both hydrocarbons and green energy, which fulfils the desired requirement of adequate safety and security levels. Development of underground energy storages technologies over the last decade has shown reflection of innovative solutions and use of advance technological tools from geotechnical engineering domain. This paper discusses the usage of current storage technologies in execution, along with a case study highlighting role of geotechnical observation in countering major field challenges along with emerging innovative solutions for long-term energy storages for achieving energy reliability for growing economies.</p>