TotalEnergies sells all its Dutch and German fuel stations

The French oil and gas concern TotalEnergies sells all its gas stations in Germany and the Netherlands – almost 1 600 – to Alimentation Couche-Tard, the Canadian multinational operator of convenience stores, offering a wide variety of products for people on the go.

In Belgium and Luxembourg, TotalEnergies is the market leader with 619 gas stations. The operation of those 619 stations will go to a joint venture with Couche-Tard, in which TotalEnergies holds 40%. In France, nothing will change for the time being.

The deal is based on an enterprise value of 3,1 billion euros. TotalEnergies’ name, however, will remain visible for at least another five years, that is, as long as the oil company supplies the stations with fuel.

Sales of non-fuel-related products

The key question for TotalEnergies is what future fossil fuel stations still have after 2035. According to the French energy giant, Alimentation Couche-Tard will now fully try to maximize sales of non-fuel-related products.

The French oil giant turned to Alimentation Couche-Tard because the Canadian company has the experience to run shops next to gas stations and could help transform those locations into places where people come for more than just fuel.

In Germany and the Netherlands, 1 198 and 392 stations, respectively, will be sold. Only the AS24 networks of service stations where trucks can refuel will remain in the hands of TotalEnergies. In France, with 3 400 stations, the situation remains unchanged. TotalEenergies is a very visible player in the country.

Drop in fuel sales

The transaction is partly due to the climate objectives of the European Union. Selling new cars with a traditional combustion engine will be restricted as of 2035. Meanwhile, TotalEnergies has already noticed a drop in fuel sales.

More people opt for electric cars, and most of them prefer to charge their vehicles at home or at work. Another factor is TotalEnergies’ goal to reduce the sale of petroleum products by 30% by 2030 to reduce its carbon emissions and to focus more on charging stations for electric cars. In that context, TotalEnergies has already disposed of filling stations in Italy, Switzerland, and the UK.

Alimentation Couche-Tard has 14 302 stores across Canada, the United States, Mexico, Ireland, Norway, Sweden, Denmark, Estonia, Latvia, Lithuania, Poland, Russia, Japan, China, and Indonesia.