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State of Alaska completes buyout of TransCanada's interest in gas project


JUNEAU, Alaska — The state of Alaska has completed its acquisition of TransCanada Corp.'s interest in a major gas project.

Gov. Bill Walker, in a release, called it an historic day.

Legislators earlier this month approved funding for the state to buy out the Canadian pipeline company's interest in the project, giving the state a greater stake.

The governor's office says Natural Resources Commissioner Mark Myers finalized the termination of the agreement that established TransCanada's participation in the project, and the state paid the termination amount, totaling about $64.6 million.

TransCanada has transferred its interests in the project to the state-sanctioned Alaska Gasline Development Corp., Walker's office said.

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