Couche-Tard may bring its European fuel-saving gas to North America

Alain Bouchard, chief executive of Alimentation Couche-Tard poses for a photo Tuesday, August 31, 2010 at the company's annual meeting in Laval, Quebec. (THE CANADIAN PRESS/Ryan Remiorz)

LAVAL, Que. -- Alimentation Couche-Tard says it may introduce fuel-saving gas to North America after it completes a planned rollout in Europe.

The Quebec-based convenience store operator said after its annual meeting Wednesday that additives included in its Miles-branded fuel sold in Europe reduces fuel consumption by two to three per cent and cuts auto maintenance costs.

Couche-Tard obtained the fuel's European patents after buying Statoil Fuel & Retail last year. The product had been in development for five years before the acquisition from oil giant Statoil.

CEO Alain Bouchard says he was blown away when details of the fuel were shared with company executives. The fuel price is the same as product not containing additives and margins are only slightly reduced.

He says the priority is to extend where the fuel can be purchased in Europe next year before deciding on the potential timing of a North American launch.

Bouchard declined to say where the fuel is made or what form of additives create the operating savings.

Meanwhile, Bouchard says Couche-Tard will focus in the coming year on further integrating its operations with Statoil Fuel & Retail, cutting debt and continuing expansion through U.S. acquisitions. It plans to buy about 200 stores and build some 70 new locations.

It is also working to expand its fresh food offering, especially in Quebec, where progress has lagged its other operations.