As global energy and commodity houses diversify into metals to meet the growing needs of industrialisation, electrification, and infrastructure development, Alkagesta is reinforcing its position in the supply chain of essential industrial materials. Recognising metals as a natural and strategic extension of its trading portfolio, Alkagesta is pleased to announce the creation of Alkanavex, a joint venture with Navex SAS (“Navex”), a well-established steel trading company headquartered in France.
The establishment of Alkanavex, based in Malta, marks Alkagesta’s formal entry into the metals trading space, with an initial focus on steel—a sector central to global construction and manufacturing growth. As the next horizon of expansion, this development aligns with Alkagesta’s long-term strategy to go beyond its traditional petroleum products and fertiliser trading activities and to build a robust, integrated metals trading platform, supported by prudent risk management and strict compliance and corporate governance practices of Alkagesta.
Over the past two years, Alkagesta and Navex have worked closely to align their operations, governance, and commercial models. With Alkagesta holding a majority stake, the agreement to establish Alkanavex is now finalised, while the legal formalisation and operational integration process are underway.
Founded by industry veterans with over 25 years of individual experience, Navex brings a rigorous compliance culture, best-in-class operational procedures, and a proven trading network. Jean-Pierre Artigala, Chief Executive Officer of Navex, has over five decades of experience in the steel industry, having held senior roles in leading European and international steel groups, including Usinor/Sacilor (now ArcelorMittal), Fercometal, and Descours & Cabaud. His career has encompassed steel manufacturing, global sourcing, and export trading across the USA, Europe, Brazil, Africa, China, and the Middle East, providing Navex with unparalleled market knowledge and strategic depth. The company sources primarily from China, the world’s largest steel exporter, and supplies long-standing customers across West and East Africa—regions undergoing rapid economic and infrastructure expansion.
Pierre Gay, Member of the Board of Alkagesta, said:
“This partnership is built on mutual respect and strategic alignment. Alkanavex is more than a combination of two teams — it represents a shared vision for building a high-performing, well-governed, and globally competitive steel trading platform.”
Jean-Pierre Artigala, CEO of Navex, commented:
“This partnership gives Navex access to the financial strength, governance framework, and global footprint of Alkagesta while preserving our operational heritage. We are excited to deepen our presence in Africa and to explore sourcing synergies and new product corridors with Alkagesta.”
Orkhan Rustamov, CEO of Alkagesta, added:
“We’ve long believed that steel and metals trading is a natural next step for Alkagesta. With the right partners, the right governance, and a prudent commercial model, we see this as a powerful growth engine. Navex stood out for its professionalism, integrity, and long-term track record.”
About Alkagesta
Alkagesta is a global commodity trading house specialising in petroleum products, fertilisers, and biofuels. Established in Malta in 2018, the company operates as a multinational enterprise with 17 offices and representations worldwide. Alkagesta maintains partnerships with 28 international banks and conducts trading activities across 42 countries, facilitating over 7 million metric tons of commodity flows annually. Its extensive logistics network includes access to more than 700,000 cubic meters of storage capacity across Europe and Asia, supporting efficient and resilient global supply chains.
In addition to its core activities, Alkagesta selectively engages in spot trading of petrochemicals, agricultural commodities, and metals. The company offers fully integrated trading capabilities—from sourcing and storage to delivery—underpinned by robust risk management, compliance, and governance frameworks.
Alkagesta was founded in 2018 by its management team and remains privately held and governed by senior leadership. Senior leadership, including the founding team, already holds a significant equity stake in the company, which continues to grow in alignment with performance and strategic contribution. Today, the Group employs over 150 professionals and is built on tested systems, experienced governance, and a culture of continuous development. This evolving ownership structure reflects Alkagesta’ s founding principles—ensuring long-term alignment, operational discipline, and institutional resilience.
Visit: www.alkagesta.com
