Shell is set to shut down its gas trading operations in Madrid due to tax issues, according to a report from the Spanish newspaper Cinco Dias, which referenced sources familiar with the situation. 

The company intends to relocate its team of around 50 employees to Dubai, London, and Singapore. 

This team is responsible for managing commercial activities, as noted by Cinco Dias. 

These operations were initially part of Pavilion Energy, a liquefied natural gas (LNG) firm that Shell acquired from Singapore's Temasek investment fund last June. 

A Shell spokesperson in Madrid chose not to provide any comments.