Alkagesta has agreed to buy Turkish marine fuel distributor Energy Petrol in a transaction that will give the company its first owned vessels. In an announcement on its website, Alkagesta said Turkey’s competition authority had approved the acquisition, which includes eight marine fuel vessels. The company did not disclose the financial terms of the agreement.
Energy Petrol is to remain independently operated following the purchase, according to the announcement. Alkagesta said the transaction would bring its total worldwide oil products storage capacity to about 728,000 cubic metres. The company also referred to Bloomberg coverage of the deal on 22 October, but did not give a year for that report in the supplied text.
The purchase extends Alkagesta’s activities beyond marine fuel trading to distribution directly to end-users. Alongside the addition of the vessel fleet, that change is central to the company’s description of the transaction. Asad Huseynov, Alkagesta’s managing director of investments and asset management, said the agreement provided a basis for possible further investments or structured partnerships involving other infrastructure-style assets. Those opportunities were presented as potential future steps rather than announced commitments.
Alkagesta put its existing share of Turkey’s marine fuel supply market at approximately 40%, against annual market demand of 2.5 million tonnes. It also said it supplies around 75% of Malta’s market. The company plans to expand its marine fuel supply business in Singapore, where it reported volumes of about 250,000 metric tonnes a month in the hub’s first full year.
The announcement placed the acquisition alongside what Alkagesta described as a record first half of 2026. During that period, the company said it obtained access to the NATO Central Europe Pipeline System for Jet A1 deliveries and carried out its first crude oil transactions.