Phillips 66 and Welser Doppler Group Divest from Traditional Gas Station Businesses in Austria, Embracing Renewable Fuels and Hydrogen

Phillips 66, a US parent company, has announced the sale of its 162 JET gas stations in Austria. This move is part of the company’s plan to divest from non-core assets and focus on renewable fuels. JET is currently the fifth largest gas station operator in Austria, and Phillips 66 aims to become a global leader in this area. However, the company plans 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 as it shifts towards renewable fuels and sells traditional gas station businesses like JET. This transition reflects a global trend towards sustainability and innovation in the energy sector.