ALTAGAS REACHES NEW LONG-TERM RIPET LABOUR AGREEMENT
MWN-AI** Summary
AltaGas Ltd. has successfully negotiated a new five-year labour agreement with the International Longshore and Warehouse Union Local 523B for the Ridley Island Propane Export Terminal (RIPET). This agreement, which has been fully ratified, ended a 28-day labour disruption, with union employees returning to work on December 25, 2025. Throughout the strike, AltaGas focused on collaboration with union representatives to secure a fair deal benefiting all parties involved. During the disruption, the company leveraged its operational leadership to ensure export operations continued without significant interruption, maintaining service for over 70 export customers using the terminal.
RIPET is crucial in linking Canadian propane to expanding markets in Asia, contributing to improved pricing for Canadian producers as well as bolstering energy security and diversification in the region. AltaGas' dedication to safety and operational excellence allowed them to uphold their strong service reputation even during challenging circumstances.
As North America's energy infrastructure evolves, AltaGas continues to position itself as a leader, connecting consumers with reliable energy sources. The recent agreement is expected to enhance trade relationships and reaffirm Canada's status as a dependable energy supplier, aligning with the growing demand for propane in international markets.
For stakeholders, this agreement signifies a commitment to long-term stability, reflecting AltaGas' ongoing efforts to provide a low-risk, high-growth energy infrastructure platform. The company aims to create lasting value for its shareholders while addressing the needs of the markets it serves. Investors and interested parties can find further information on AltaGas' corporate developments through their official communications.
MWN-AI** Analysis
AltaGas Ltd. (TSX: ALA) recently announced a new five-year labor agreement with the International Longshore and Warehouse Union Local 523B, bringing stability back to the operations at the Ridley Island Propane Export Terminal (RIPET) following a 28-day labor disruption. This agreement is expected to bolster AltaGas’s long-term operational performance and strengthen its market position as a leader in energy infrastructure.
The successful resolution of labor disputes is critical for companies in the energy sector, particularly for those like AltaGas that depend on smooth operational processes to sustain customer relationships and maintain service levels. The fact that AltaGas was able to continue operations during the strike using alternative workforce strategies speaks volumes about its robust management and commitment to service continuity. This operational resilience is a positive signal to investors, demonstrating that AltaGas can navigate labor challenges while maintaining key customer relationships, especially in a growing export market.
Moreover, as Canada strengthens its economic and energy ties with Asian markets, RIPET’s role in facilitating propane exports enhances AltaGas's strategic advantage. With the increasing demand for energy security in Asia, AltaGas is positioned to benefit from stronger pricing for Canadian producers, which can lead to improved financial performance in the coming quarters.
Investors should consider the implications of this labor agreement on AltaGas’s long-term stability and growth potential. The renewed labor relations should alleviate market concerns regarding operational disruptions, enabling the management to focus on strategic growth initiatives. Given recent performance trends and the growing demand for energy exports, AltaGas shares may prove to be a solid addition to a diversified investment portfolio. Monitoring the company’s subsequent earnings reports and operational efficiencies will be key to assessing its continued growth trajectory.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Canada NewsWire
CALGARY, AB, Dec. 29, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) is pleased to have reached a new five-year labour agreement with the International Longshore and Warehouse Union Local 523B at the Ridley Island Propane Export Terminal ("RIPET"). The agreement has been fully ratified, and union employees returned to work on December 25. Throughout the 28-day labour disruption, AltaGas remained committed to working collaboratively with our union partner to achieve a fair agreement that benefits all stakeholders over the long-term.
The Company is pleased to have RIPET union staff back onsite delivering the same high-performance service that has defined the terminal since it was commissioned in 2019. During the labour disruption, AltaGas utilized operational leadership as an alternative workforce to maintain consistent export operations. Over this period, AltaGas continued to deliver safe, reliable service while meeting the needs of its more than 70 export customers that are serviced by the open access terminal. AltaGas' commitment to safety and operational excellence was essential in sustaining uninterrupted, reliable service throughout the labour strike.
With economic and energy ties between Canada and Asia continuing to expand, RIPET serves as a vital outlet for Canadian propane to reach the highest value global markets. This supports stronger pricing for Canadian producers and aggregators, delivers benefits across Canada, and enhances energy security and diversification in Asia. By sustaining ratable service throughout the labour disruption, AltaGas reinforced key trade relationships and upheld Canada's reputation as a reliable, long-term energy supplier to meet the region's growing demand.
ABOUT ALTAGAS
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth energy infrastructure business that is focused on delivering stable and growing value for its stakeholders.
For more information visit www.altagas.ca or reach out to one of the following:
Jon Morrison
Senior Vice President, Corporate Development and Investor Relations
Jon.Morrison@altagas.ca
Aaron Swanson
Vice President, Investor Relations
Aaron.Swanson@altagas.ca
Media Inquiries
1-403-206-2841
media.relations@altagas.ca
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information (forward-looking statements). Words such as "may", "can", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "aim", "seek", "propose", "contemplate", "estimate", "focus", "strive", "forecast", "expect", "project", "target", "potential", "objective", "continue", "outlook", "vision", "opportunity" and similar expressions suggesting future events or future performance, as they relate to the Company or any affiliate of the Company, are intended to identify forward-looking statements. Specifically, this news release contains forward-looking statements with respect to, among other things, that the labour agreement will benefit all stakeholders over the long-term; the benefits of RIPET, including supporting stronger pricing for Canadian producers and aggregators, delivering benefits across Canada while enhancing energy security and diversification in Asia; and the benefits of sustaining ratable service throughout the labour disruption.
These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties including, without limitation, labour shortages, changes in market, governmental and regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents.
Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release including, without limitation, those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE AltaGas Ltd.
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FAQ**
How does Altagas Ltd. ALA:CC plan to leverage the new five-year labour agreement with the International Longshore and Warehouse Union to enhance operational efficiency at the RIPET terminal?
What specific benefits does Altagas Ltd. ALA:CC anticipate for stakeholders due to the completion of the labor agreement and the return of union employees to work at RIPET?
In light of the labour disruption, what measures has Altagas Ltd. ALA:CC implemented to ensure reliability in service delivery to its over 70 export customers at the RIPET terminal?
Could Altagas Ltd. ALA:CC elaborate on how the new agreement affects its competitive position in the Canadian propane market and its export capacity to Asian markets?
**MWN-AI FAQ is based on asking OpenAI questions about Altagas Ltd. (TSXC: ALA:CC).
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