A storage vessel system for subterranean installation and a method for constructing such a system. The system includes a storage vessel and a support structure for supporting the storage vessel so that the weight of the storage vessel and any upward buoyancy force applied to the storage vessel are both transferred to the support structure. More particularly, the support structure defines a vessel housing and the storage vessel is contained within the vessel housing. The support structure includes a bearing surface adapted for contacting the ground so that the system is supported on the ground, a vessel anchor for anchoring the storage vessel so that the upward buoyancy force applied to the storage vessel is transferred to the support structure, an exterior shell which permits an infiltrating fluid to infiltrate the vessel housing, and a packing material contained within the vessel housing by the exterior shell and substantially surrounding the storage vessel in order to protect and support the storage vessel.