AltaGas posts record quarter on Asian exports, but West Coast strike clouds outlook

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeCommoditiesEnergyOil & GasAltaGas posts record quarter on Asian exports, but West Coast strike clouds outlookA strike at a neighbouring terminal and a labour board ruling are expected to slow shipments through the company’s most important export gatewayLast updated 19 minutes ago AltaGas Ltd. employees. Photo by AltaGas Ltd.Calgary-based pipeliner AltaGas Ltd. reported record third-quarter earnings Thursday on the strength of its liquefied petroleum gas exports to Asia.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBut a strike at a neighbouring terminal in Prince Rupert, B.C., and a labour board ruling this week are now expected to slow shipments through the company’s most important export gateway.The Calgary-based company exported a record 147,000 barrels a day of liquefied petroleum gas during the quarter: 89,000 barrels a day through its Ridley Island Propane Export Terminal near Prince Rupert, and 58,000 through its Ferndale terminal in Washington state.This advertisement has not loaded yet, but your article continues below.AltaGas said it still expects full-year results at the upper end of projections it recently raised, but its outlook now carries a caveat.Members of the International Longshore and Warehouse Union walked off the job Oct. 2 at Trigon Pacific Terminals, which provides rail logistics and berthing services.AltaGas said the Prince Rupert strike had not materially affected its results so far, but following a Canada Industrial Relations Board ruling earlier this week, it now expects some disruption in the months ahead.“We are actively mitigating that impact and continue to expect results toward the upper end of our recently increased guidance ranges,” chief financial officer Sean Brown told analysts on a conference call Thursday.AltaGas is not a party to the dispute, but the layout of the site leaves it exposed.Trigon runs a multi-commodity bulk terminal on Ridley Island that ships metallurgical and thermal coal, petroleum coke and liquefied petroleum gas from B.C. and Alberta.The two terminals share rail access, with Ridley Island sitting inside the rail loop that serves Trigon.This advertisement has not loaded yet, but your article continues below.On Oct. 27, the labour board ruled that Trigon broke the Canada Labour Code by letting contractors do work normally performed by unionized employees during the strike.Those contractors had been handling liquefied petroleum gas rail-car duties at the shared site, using Trigon’s infrastructure. The board found Trigon allowed the arrangement and benefited from it, because it freed the company’s small group of trained non-union staff to keep coal moving.AltaGas said it disagrees with the decision and is weighing its legal options.The company said the ruling hampers its ability to move Canadian propane reliably through Ridley Island.And it warned that disruption at the gateway ripples across the energy sector, hitting producers, midstream companies and customers, while hurting Canada’s reputation as a dependable supplier to global markets.The ruling was the second setback for Trigon in a week. On Oct. 20, the board dismissed the company’s complaint that the union was bargaining in bad faith, rejected its request to have the walkout declared unlawful, and ruled the strike legal.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.The strike is over wages, benefits and working conditions. The terminal has about 150 employees, most of them members of International Longshore and Warehouse Union Local 523A.The walkout is already slowing traffic at the terminal. Data from rail-traffic monitoring firm RailState shows coal and petroleum coke trains into Trigon fell 48 per cent a week after the strike began. Over the same period last year, weekly train counts rose.AltaGas has managed through labour trouble on Ridley Island before. Its own Ridley Island workers, represented by International Longshore and Warehouse Union Local 523B, walked out in November 2025.The company kept the terminal running with an alternate workforce until a five-year agreement ended the almost month-long dispute.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.