CALGARY — Shell Canada says its purchase of 56 gas stations from the parent company of Sobeys is part of Shell’s long-term plan to grow its network of retail fuel stations across the country.
The two companies announced Thursday that Shell will acquire the gas stations from Sobeys parent Empire Co. Ltd. for about $100 million.
Kent Martin of Shell Canada says Shell is aggressively growing its retail fuel network worldwide.
He says the company knows gasoline demand will decline over the long-term in favour of cleaner burning fuels and electric cars.
But he says Shell believes that by growing its retail footprint, it will eventually be ready to offer drivers traditional gasoline, EV charging, even hydrogen and renewable fuels.
Martin says in the long-term, the company also plans to enhance its convenience store offerings to help offset the loss of revenue that will come as gasoline demand declines.
This report by The Canadian Press was first published Dec. 15, 2022.
The Canadian Press
Do you have a news tip or a story idea?
Send it our way!