Alkagesta to add eight bunkering vessels through Energy Petrol acquisition

Malta-based global commodity trading house Alkagesta recently announced an agreement to buy Energy Petrol, one of Turkey’s independent marine fuel distributors. 

This follows approval of the deal by the Turkish Competition Authority, with the two parties now entering the closing stages of the deal. 

“This represents a major increase in the company’s presence in the Eastern Mediterranean and is the latest step in Alkagesta’s efforts to grow its infrastructure assets,” the company said. 

Energy Petrol, founded in 1997, represents nearly 10% of Turkey’s 2.5 million-tonne per year marine fuel market. It is one of the ‘big five’ marine fuel distributors in the country, sitting alongside Petrol Ofisi (owned by Vitol), SOCAR Marine (owned by SOCAR), Opet and Arkas.

The purchase will see Alkagesta take charge of eight bunkering vessels, as well as a long-term lease of 28,000 cubic meters of tank capacity in Turkey. This will transform the company’s ability to source, store and physically supply marine fuel to the vessels directly through one of Europe’s largest and busiest hubs.

Alkagesta has long supplied the Eastern Mediterranean marine fuels market, having done so since its founding in 2018. They were a wholesale supplier to Energy Petrol for several years, giving the company a detailed knowledge and understanding of the company ahead of purchase.  

The move comes at a critical time for European energy security, with questions of supply lines and capacity still at the top of the agenda. Recent regional disruption, triggered by conflict in the Gulf, has exposed the fragility of traditional supply routes, adding to Turkiye’s appeal as a strategic alternative. It is also part of a wider trend of trading houses purchasing physical assets throughout the supply chain. 

The acquisition follows a competitive sale process, with Alkagesta winning out against several leading trading houses and industry majors. The decision reflects confidence in Alkagesta’s long-term vision and commitment to expanding their offering. 

Alkagesta’s Managing Director of Investments and Asset Management, Asad Huseynov, said: “This acquisition reflects a fundamental shift in commodity markets toward greater asset depth and sustainable business model over the long-term. Energy Petrol is a long established, sophisticated and reliable marine fuels distributor at the forefront of operations in Turkiye.”

Energy Petrol will continue to operate independently, serving its established customer base of international shipowners. Alkagesta will now expand into marine fuel retail distribution alongside its existing wholesale distribution market across the Mediterranean, and Singapore. The deal will now go through its final stages and is expected to complete in the coming weeks. 

Photo credit: Alkagesta
Published: 27 October, 2026