The US parent company Phillips 66 has announced that it will put all 162 JET gas stations in Austria up for sale. This decision 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, behind ENI, BP, OMV, and Shell. The company has not released information about the specific timing or selling price of the sale.
Phillips 66 aims to focus on renewable fuels and become a global market leader in this area. To achieve this goal, they have decided to move 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 companies continue to prioritize cleaner sources of energy, we can expect more changes and restructuring within this sector in coming years.