CALGARY, ALBERTA -- (Marketwire) -- 06/16/09 -- TransCanada Corporation (TSX: TRP)(NYSE: TRP) (TransCanada) today announced that it has reached an agreement to become the sole owner of the Keystone Pipeline System (Keystone) through the acquisition of ConocoPhillips' remaining interest in the project for approximately US$550 million plus the assumption of approximately US$200 million of short-term debt. The purchase price reflects ConocoPhillips' capital contributions to date and includes an allowance for funds used during construction. TransCanada will also assume responsibility for ConocoPhillips' share of the capital investment required to complete the project resulting in an incremental commitment of approximately US$1.7
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