Alkagesta acquires Turkish marine fuel company

Alkagesta, an international energy and commodity trading house, has acquired Energy Petrol, a Turkish marine fuel distribution company.

The acquisition has received approval from Turkey’s antitrust authority. Energy Petrol will maintain independent operations post-acquisition, serving a significant portion of Turkey’s and Malta’s marine fuel markets.

The company’s fleet of eight marine fuel vessels brings Alkagesta’s total global oil products storage capacity to approximately 728,000 cubic metres. This strategic acquisition allows Alkagesta to change 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.” Alkagesta supplies approximately 40% of Turkey’s annual marine fuel market and about 75% of Malta’s market share.

They are planning to expand into Singapore’s marine fuel sector. The 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.

Alkagesta 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.