This article focuses on water security in Mykolaiv, a city of 0.5 million inhabitants in southern Ukraine, in the situation of scarcity of usable water resources caused by climate change and military operations. This problem arose after the Dnipro-Mykolaiv water pipeline was destroyed in April 2022 as a result of military operations and the supply of drinking water to the city was cut off. To ensure that the city’s population has constant access to sufficient water of acceptable quality, a search for alternative water sources and a climate risk assessment were carried out for the new municipal water supply system from the Southern Bug River. The possible change in flow and its intra-annual distribution under the influence of climate change was modeled using the WaterGAP2 hydrological model and climate projections under the SSP1-2.6 and SSP5-P8.5 scenarios. It was found that under the SSP1-2.6 scenario, the reduction in river flow will be insignificant (up to a maximum of 14% in the far future) and there will be no restrictions on the city’s water supply from this section of the river in the near (2021-2050) and far (2051-2080) period. The maximum water withdrawal for municipal water supply and the minimum environmental flow will reach their maximum value only in August (56% of the projected flow), which is not critical. Under the SSP5-8.5 scenario, in the long-term perspective of 2051-2080, the largest decrease in runoff will occur from May to October, and the water withdrawal will increase to 40-79% of the projected flow. The use of the research results not only in water management, but also in municipal administration, and their dissemination in territorial communities will contribute to the successful adaptation of socio-economic and environmental processes in the region and can bring successful benefits not only to the economy, but also to communities.