Phillips 66, the US parent company of JET gas stations in Austria, has announced that it is selling all 162 of its gas stations in the country. This news was first reported by Die Krone in Austria. Mark Lashier, the head of the energy group, stated that this decision aligns with their plan to divest from non-core assets and focus on renewable fuels.
JET is the fifth largest gas station operator in Austria, with 162 stations trailing behind ENI, BP, OMV, and Shell. However, Phillips 66 has not disclosed any specific details regarding the timing of the sale or the selling price. The US group aims to become a global market leader in renewable energy and is focusing on developing new technologies for hydrogen fuel cells and other sustainable solutions.
In addition to selling its gas stations in Austria and Germany, Phillips 66 also plans to build a network of hydrogen filling stations in these countries by 2026. This partnership with H2 Energy Europe will help them establish themselves as leaders in the renewable energy sector.
Meanwhile, another Austrian company underwent a realignment last year by selling its Turmöl fuel business and announcing plans to produce synthetic truck diesel from hydrogen and CO₂. The Welser Doppler Group aims to become a market leader in liquid gas business in Austria by 2025 and expand into neighboring countries. This move shows how companies are shifting towards cleaner and more sustainable energy sources as concerns about climate change continue to grow globally.
Overall, these changes highlight how companies are adapting their strategies to meet changing market demands and regulatory requirements while also prioritizing sustainability goals.
