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Finance

Shell to halt Spain gas trading, relocate staff, Cinco Dias reports

Published by Global Banking & Finance Review

Posted on January 15, 2025

1 min read

· Last updated: January 27, 2026

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Shell gas trading operations in Spain to be relocated due to tax reasons - Global Banking & Finance Review — This image depicts the Shell logo, symbolizing the company's decision to halt gas trading operations in Spain. The move, driven by tax considerations, will see staff relocating to Dubai, London, and Singapore, as reported by Cinco Dias.

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MADRID (Reuters) - Shell plans to close its Madrid gas trading operations for tax reasons, Spanish newspaper Cinco Dias reported on Wednesday, citing unnamed sources close to the matter. The company

Shell to End Gas Trading in Spain, Staff to Relocate Globally

MADRID (Reuters) - Shell plans to close its Madrid gas trading operations for tax reasons, Spanish newspaper Cinco Dias reported on Wednesday, citing unnamed sources close to the matter.

The company plans to move its staff of about 50 people to Dubai, London and Singapore.

The staff includes a team handling commercial activities, Cinco Dias said.

The operations were originally part of liquefied natural gas (LNG) company Pavilion Energy which Shell bought from Singapore's investment fund Temasek in June last year.

A spokesperson for Shell in Madrid declined to comment.

(Reporting by Inti Landauro; editing by Jason Neely)

Key Takeaways

Shell is closing its Madrid gas trading operations.
The closure is due to tax reasons.
Staff will be relocated to Dubai, London, and Singapore.
Operations were part of Pavilion Energy, acquired by Shell.
Shell declined to comment on the matter.

Frequently Asked Questions

What is the main topic?

The main topic is Shell's decision to close its gas trading operations in Madrid and relocate staff due to tax reasons.

Why is Shell closing its Madrid operations?

Shell is closing its Madrid operations for tax reasons and plans to relocate staff to other global offices.

Where will Shell relocate its staff?

Shell plans to relocate its staff to Dubai, London, and Singapore.

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