Alkagesta moves into vessel ownership with Energy Petrol acquisition
Alkagesta has agreed to acquire Turkish marine fuel distribution company Energy Petrol, marking its first move into vessel ownership and expanding its position in the Mediterranean bunkering market.
The transaction, which has received approval from Turkey’s competition authority, includes a fleet of eight marine fuel vessels. Financial terms have not been disclosed, while Energy Petrol is expected to continue operating independently.
According to Alkagesta, the acquisition will bring its total global oil products storage capacity to approximately 728,000 cubic metres.
The agreement represents an expansion of the company’s activities beyond marine fuel trading into direct distribution to end-users.
Expanding marine fuel distribution capabilities
The acquisition will provide Alkagesta with its first owned vessels, adding physical distribution capabilities to its existing marine fuel trading operations.
Energy Petrol’s eight-vessel fleet will form part of the transaction, allowing Alkagesta to extend its involvement in the marine fuel supply chain.
The company currently supplies approximately 40% of Turkey’s marine fuel market, estimated at 2.5 million tonnes annually, and approximately 75% of Malta’s market, according to figures provided by Alkagesta.
The acquisition also comes as the company pursues further expansion of its marine fuel supply activities in Singapore, where its operations reached approximately 250,000 metric tonnes per month during their first full year.
Further infrastructure investments under consideration
Asad Huseynov, Managing Director of Investments and Asset Management at Alkagesta, indicated that the transaction could provide a foundation for additional investments or structured partnerships involving infrastructure-related assets.
However, the company has not announced any further acquisitions or investment agreements in connection with these plans.
The Energy Petrol transaction follows a period of expansion for Alkagesta, including its entry into crude oil trading and access to the NATO Central Europe Pipeline System for Jet A1 fuel deliveries during the first half of 2026.
With the acquisition, Alkagesta is seeking to combine its established trading activities with direct marine fuel distribution, while maintaining Energy Petrol’s independent operating structure.
Although the transaction has received regulatory approval, Alkagesta’s announcement describes it as an agreed acquisition rather than a completed transfer of ownership.
