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Wednesday, March 22, 2023

Fuel: Total sells petrol stations in Germany and the Netherlands

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The French energy group wants to withdraw from the gas station business. According to Paris, this is related to the climate neutrality that the EU is aiming for.

The French energy group TotalEnergies is selling its networks of 1198 filling stations in Germany and 392 in the Netherlands to the Canadian company Couche-Tard. In Belgium and Luxembourg, a joint venture will be established with Couche-Tard to operate the 619 Total petrol stations there, the group announced on Thursday in Paris. The four gas station networks are to remain under the TotalEnergies brand for at least five years as long as they are supplied with fuel by Total.

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The withdrawal from the petrol station business is related to the climate neutrality sought by the EU and the planned end of sales of new combustion cars from 2035. This is prompting TotalEnergies to make decisions about its fuel station network in Europe, which has suffered revenue losses due to declining fuel sales. One of the reasons for this is that electric cars are more likely to be charged at home or in the company, not at the charging stations of the gas stations, the group explained.

With this in mind, petrol stations should in the future be transformed into service and lounging places with shops, restaurants and services and not just fuel sales points. That’s why TotalEnergies turned to Couche-Tard, known for its extensive experience operating convenience stores alongside gas stations.

Source: Stern

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