Alkagesta has agreed to buy Turkish marine fuel distributor Energy Petrol, taking its first step into vessel ownership and extending its business beyond fuel trading. In an announcement on its website, Alkagesta said Turkey’s competition authority had approved the transaction. The company did not disclose financial terms and said Energy Petrol would retain its operational independence.

The acquisition covers eight marine fuel vessels and, according to Alkagesta, takes its worldwide oil products storage capacity to about 728,000 cubic metres. The company said Bloomberg had reported the agreement on 22 October. The vessels form part of a transaction that adds direct distribution to Alkagesta’s existing marine fuel trading activities, allowing it to supply end-users through the acquired business.

Asad Huseynov, Alkagesta’s managing director of investments and asset management, presented the agreement as a basis for possible further investment in infrastructure-style assets. Such expansion could involve either investments or structured partnerships, according to the announcement. His comments outlined potential avenues for further development rather than identifying another acquisition or a specific partnership alongside the Energy Petrol agreement.

Alkagesta put its current share of Turkey’s marine fuel supply market at approximately 40%, against an annual market volume of 2.5 million tonnes. It also said it supplies around 75% of Malta’s marine fuel market. Beyond those markets, the company plans to expand its Singapore marine fuel supply operations, reporting that the hub reached approximately 250,000 metric tonnes a month during its first full year.

The company placed the acquisition alongside what it described as a record first half of 2026. During that period, Alkagesta said it obtained access to the NATO Central Europe Pipeline System for Jet A1 deliveries and carried out its first crude oil transactions. Those developments accompanied the expansion of its marine fuel business described in the announcement.

Read the original announcement on Alkagesta.