The history of town gas is unique in the development of public services in urban areas. Indeed, gas was the subject of the first network infrastructure set up in cities. In Spain, its history is discontinuous because the networks were dismantled in the 1940s and 1950s. The purpose of this paper is to retrace the steps of the development of the gas network in a region where the Spanish gas companies took the form of early modern businesses. They contributed significantly to the dynamism of local financial markets, both in terms of enterprise configuration, technology dissemination and innovative management. However, the development of the gas industry remained subject to local conditions of supply and demand, to conflicts with local government and suffered from competition from electricity.