AltaGas Secures 5-Year Union Deal, Ending Strike at Key Propane Terminal

CALGARY, AB – December 29, 2025 – AltaGas Ltd. has successfully negotiated a new five-year collective agreement with its unionized workforce at the Ridley Island Propane Export Terminal (RIPET), bringing a 28-day labor disruption to a close and ensuring long-term stability at a critical node in Canada's energy export infrastructure.

The agreement with the International Longshore and Warehouse Union (ILWU) Local 523B was fully ratified, allowing union employees to return to their posts on December 25. The resolution marks the end of a period of uncertainty at the facility, with AltaGas stating it remained committed to a collaborative process throughout the strike to achieve a fair and sustainable outcome for all stakeholders.

A Resolution for Long-Term Stability

The new five-year term provides a significant runway of operational certainty for RIPET, a facility that has been a cornerstone of Canada's propane export strategy since it was commissioned in 2019. The end of the labor dispute, which saw workers return on Christmas Day, signals a fresh start for labor-management relations at the terminal.

In its official announcement, AltaGas emphasized its satisfaction in welcoming the union staff back to the site. The company praised the high-performance service that has defined the terminal's operations and expressed confidence that the new agreement will benefit employees, the company, and its extensive customer base over the long term. The conclusion of negotiations removes a significant operational risk and allows the company and its partners to focus on the terminal's primary mission: connecting Canadian energy with global markets.

Operational Resilience Amidst Disruption

A key aspect of the 28-day labor action was AltaGas's ability to maintain uninterrupted operations. The company successfully deployed its operational leadership team as an alternative workforce, ensuring that the flow of propane to its international customers never ceased. This feat of logistical and managerial coordination was critical in upholding the company's commitments and Canada's reputation as a dependable energy supplier.

Throughout the strike, the terminal continued to service its more than 70 export customers without interruption. AltaGas underscored that its unwavering commitment to safety and operational excellence was paramount during this period. By preventing any disruption to its export schedule, the company demonstrated a high level of operational resilience. This sustained performance was not only a testament to its contingency planning but also a crucial factor in preserving trust with key trade partners in Asia who depend on the reliable delivery of Canadian propane. The ability to guarantee service, even under challenging circumstances, reinforces RIPET's value proposition as an open-access terminal that prioritizes customer needs.

RIPET's Vital Role in Global Energy Security

The Ridley Island Propane Export Terminal is more than just a piece of industrial hardware; it is a strategic gateway that plays a pivotal role in both the Canadian economy and the energy security of Asia. As economic and energy ties between Canada and Asia continue to strengthen, RIPET serves as the primary West Coast outlet for Canadian propane to reach high-value global markets.

This access to international buyers provides significant benefits domestically. It allows Canadian propane producers and aggregators to achieve stronger pricing by avoiding potential gluts in the North American market. The economic activity generated by the terminal radiates across the country, supporting jobs and generating revenue. For Asian nations, RIPET represents a source of stable, reliable energy from a democratic partner, contributing to the region's energy diversification and security. As these nations seek to meet growing demand while managing their energy mix, Canadian propane provides an affordable and lower-carbon alternative to other fossil fuels.

By ensuring ratable service throughout the labor disruption, AltaGas did more than just fulfill contracts; it reinforced Canada's standing on the world stage. The seamless operation sent a powerful message to the global market that Canada's energy infrastructure is robust and its commitments are steadfast, even in the face of internal challenges. This reliability is a priceless asset in the competitive global energy trade.

A Foundation for Future Growth

With the five-year agreement now in place, AltaGas has solidified the foundation for RIPET's continued success and growth. The long-term labor stability is welcome news for investors, producers, and international customers alike, as it removes uncertainty and allows for more predictable planning and investment. The agreement ensures that the skilled union workforce that has been integral to the terminal's success since 2019 will continue to guide its operations.

As a leading North American infrastructure company, AltaGas operates a diversified and lower-risk business model focused on connecting customers to reliable energy sources. The successful resolution at RIPET aligns perfectly with this corporate strategy, ensuring one of its flagship assets can continue to deliver stable and growing value for its stakeholders. The new chapter of labor peace at the terminal positions it to capitalize fully on the expanding energy trade between Canada and Asia, securing its role as a vital link in the global energy supply chain for years to come.