Phillips 66, a US-based parent company, has announced the sale of all 162 JET gas stations in Austria. This move is part of the company’s plan to divest from non-core assets, which also includes their retail business in Germany. JET is currently the fifth largest gas station operator in Austria, following ENI, BP, OMV, and Shell. The specific timing and selling price of the sale have not been released.
Phillips 66 aims to focus on renewable fuels and become a global market leader in this area by moving away from their gas station operations in Germany and Austria. However, they are not expected to completely withdraw from Austria as they plan to establish a network of hydrogen filling stations in collaboration with H2 Energy Europe by 2026.
In addition to the sale of JET gas stations in Austria, the Welser Doppler Group has undergone a realignment by selling their Turmöl fuel business to the state-owned Polish oil company Orlen. The group also announced plans to produce synthetic truck diesel from hydrogen and CO₂, aiming to become the market leader in the liquid gas business in Austria by 2025 and expand into neighboring countries.
The energy industry in Austria is undergoing significant changes with the shift towards renewable fuels and the sale of traditional gas station businesses like JET. This transition reflects a global trend towards sustainability and innovation in the energy sector as countries strive for more environmentally friendly practices and technologies.