Alkagesta puts Malta on the map as global trading hub

As small as it may be, Malta has held a reputation as being a leader in several key global industries. The Mediterranean island has long been a sought-after destination for hospitality and tourism, while in the 21st century, it emerged as a booming iGaming and FinTech hub, building a reputation for innovation and specialised talent. Now, in the last decade, it’s adding another leading-status feather to its cap, thanks to commodity trading house Alkagesta, which has been steadily transforming Malta from a convenient regional service point into a fully-fledged global trading hub.

“Historically, Malta was seen as a bunkering stop,” explains Orkhan Rustamov, Alkagesta’s CEO. “Traders would simply use its storage capacities for local shorts. We wanted to change that narrative and elevate Malta’s role from a local pit stop to a serious global player in commodity trading.”

The company’s roots go back to 2017, when Rustamov connected with a small group of like-minded people who believed the commodity trade could be approached with both scientific precision and entrepreneurial spirit.

“We were bold, perhaps even a little foolish, to build something from scratch in an industry known for its high barriers to entry,” Rustamov recalls. “We started as a team of 11, and those first two years were relentless. No weekends, no downtime. Just a continuous drive to create an edge in the regions where we operated.”

From the outset, Alkagesta’s strategy was simple but ambitious. Rustamov and his team aimed to connect landlocked regions, especially in Central Asia, to major marine hubs like Turkey, Greece, and Malta. The idea was to create trading bridges where none existed.

“Within this framework, Malta served as an ideal outpost,” says Rustamov. “It offered consistent demand for marine fuels and a natural gateway to the wider Mediterranean trade flows.”

The decision wasn’t just about geography, though Malta’s location at the crossroads of Europe, North Africa, and the Middle East was certainly compelling. It was also about stability. A business-friendly climate, an EU-regulated legal framework, and a reputation for clarity gave international partners confidence to operate from the island.

“And beyond the technical advantages,” Rustamov adds, “what really struck us was the warmth of the Maltese people. It wasn’t only a smart base, but it became a welcoming home for our growing team.”

In less than a decade, Alkagesta has delivered on its vision. Its onshore operations, which are fully aligned with Maltese and EU regulations, have turned Malta into a genuine hub for global flows. Today, shipments arrive from Europe, Central Asia, North Africa, and even the Americas, feeding directly into the arteries of the Mediterranean market, with steady arbitrage flows extending to ARA and East of Suez. What’s more, Alkagesta is proud to be one of Malta’s leading revenue contributors, with a strong bottom line that translates into meaningful tax contributions to the country.

Rustamov is quick to clear up a common misconception. “It’s important to clarify that what’s often referred to in the media as ‘offshore Malta’ usually happens in international waters, outside Maltese jurisdiction. This distinction matters. True energy trading rooted in Malta operates within a robust legal and regulatory framework, and we’re proud to uphold those standards.”

As a global commodity trading house, Alkagesta oversees a diverse portfolio that includes petroleum products, fertilizers, and biofuels. The company acts as a physical trader, sourcing commodities from regions with surplus and delivering them to markets where demand is strongest. Its activities cover the entire value chain, from procurement and storage to multimodal logistics across rail, road, container, and sea.

“We actively manage market imbalances through strategic storage and bridge liquidity gaps by partnering with top-tier financial institutions,” says Rustamov. “These partnerships support prepayments, transit financing, inventory management, and receivables. At the same time, we follow strict risk management protocols, covering everything from market price exposure to regulatory compliance. And quality control is always at the heart of what we do.”

Within petroleum, Alkagesta is best known for its expertise in heavy ends, including straight-run refinery feedstocks, marine and utility fuels, and vacuum gasoils. Its Middle Distillates desk handles marine and heating gasoil as well as ultra-low sulphur diesel, while the Light Ends desk, which expanded in 2025, focuses on gasoline and naphtha, extending both sourcing power and customer reach.

Since 2019, Alkagesta has also contributed to global food security through fertilizer trading, serving major short markets such as Europe, Brazil, and India, with strong sourcing networks across Central Asia and North Africa.

Whatever the commodity, Rustamov believes that it’s the service and commitment of the team that is crucial to retaining and building its network of partners: “Whether it’s complex logistics, liquidity gaps, or demand imbalances, we deliver solutions that matter. Our suppliers and clients trust us because we’re consistent. They know they can rely on us for more than execution, for insight, flexibility, and resilience in volatile markets.”

From its Malta base, Alkagesta currently operates through 17 offices and representations worldwide and actively trades with 42 countries, with conversations already underway to expand its geographic footprint further. Beyond its suppliers and clients, Alkagesta’s 150-strong team also relies on a wider ecosystem of inspectors, banks, insurers, vessel owners, agents, and customs brokers.

“There is no successful trading house without the active engagement of these professionals,” Rustamov explains. “Their expertise is essential to the reliability and agility our business demands.”

To make it work, Alkagesta treats these collaborators as integral extensions of its own team. The company emphasizes transparency, shared learning, and problem-solving across all touchpoints. Whether it’s financing, risk mitigation, logistics, or compliance, seamless coordination is what allows Alkagesta to consistently deliver the high-quality service its partners and clients expect.

The global energy transition is currently in a process of readdressing the way the world powers itself, and for Alkagesta, this shift is as much an opportunity as it is a challenge. The company has already shown its ability to adapt quickly. It played a key role in helping the Mediterranean region comply with the International Maritime Organization’s fuel regulations, first with the 2020 mandate that slashed sulphur levels from 3.5% to 0.5%, and again with the 2025 move toward ultra-low sulphur fuels. Logistics, sourcing, and risk management were all leveraged to make the transition possible.

And with an eye on the future, Alkagesta is also investing heavily in biofuels. Once focused solely on UCO feedstock, the company is now an ISCC-certified trader with storage, treating biofuels as a strategic growth engine closely tied to its marine and transport businesses.

For Rustamov, this is not a sudden pivot, but a natural progression. “We don’t believe in a binary shift where traditional fuels are simply switched off and green energy switched on,” he explains. “The transition is gradual, and it’s already underway. Our role is to bridge that transformation by connecting legacy energy systems with cleaner alternatives in a way that’s responsible, resilient, and inclusive.”

And through it all, Malta will continue to play a central role in this story. It is where Alkagesta planted its roots, and it remains a strategic hub for its international growth. From creating high-skilled jobs to deepening ties with local financial institutions, the company sees Malta not just as a base, but as part of its identity.

As Rustamov puts it: “Malta is more than a convenient location for us, it’s part of Alkagesta’s DNA. And as we grow globally, we remain anchored in the values and opportunities that Malta continues to offer.”