/Alkagesta Expands Mediterranean Reach with Acquisition of Energy Petrol
– Alkagesta acquires Turkish marine fuel distributor Energy Petrol in a strategic move.
– The deal includes a fleet of eight marine fuel vessels, enhancing Alkagesta’s oil storage capacity.
– Energy Petrol will maintain independent operations post-acquisition.
– The company currently serves a significant portion of Turkey’s and Malta’s marine fuel markets.
– Plans are underway for expansion into Singapore’s marine fuel sector.
Alkagesta, the international energy and commodity trading house headquartered in Malta, has agreed to acquire Energy Petrol, a Turkish marine fuel distribution company. The deal, covered by Bloomberg, marks the company’s first venture into vessel ownership and enhances its footprint in the Mediterranean marine fuel supply market. The acquisition has received approval from Turkey’s antitrust authority, although financial details of the transaction were not disclosed.
The acquisition involves Energy Petrol’s fleet of eight marine fuel vessels, which brings Alkagesta’s total global oil products storage capacity to approximately 728,000 cubic metres. Following the completion of the transaction, Energy Petrol will continue to operate as an independent entity.
This strategic acquisition allows Alkagesta to evolve its business model from merely trading marine fuel to directly supplying it to end users. Asad Huseynov, Managing Director of Investments and Asset Management at Alkagesta, stated, “The acquisition lays the ground for potential future investments or structured partnerships in other infrastructure-style assets.”
Currently, Alkagesta supplies approximately 40% of Turkey’s annual marine fuel market, which totals around 2.5 million tonnes, and about 75% of Malta’s market share. Additionally, the company is looking to expand its marine fuel supply operations in Singapore, where the hub recorded approximately 250,000 metric tonnes in monthly supply during its first full year of operations. This acquisition follows a record first half of 2026 for Alkagesta, which included gaining access to the NATO Central Europe Pipeline System for Jet A1 deliveries and completing its first crude oil transactions.
