SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                   FORM 6-K

                       REPORT OF FOREIGN PRIVATE ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                        For the month of January 2004

                         COMMISSION FILE No. 1-31690

                           TRANSCANADA CORPORATION
               (Translation of Registrant's Name into English)

            450 - 1 STREET S.W., CALGARY, ALBERTA, T2P 5H1, CANADA
                   (Address of Principal Executive Offices)

     Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F

                    Form 20-F               Form 40-F   X
                              -----                   -----

     Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.

                    Yes                     No   X
                        -----                  -----


                                       I

The documents listed below in this Section and filed as Exhibits 1 to 3 to
this Form 6-K are hereby filed with the Securities and Exchange Commission
for the purpose of being (and hereby are) incorporated into the following
registration statements filed by TransCanada Corporation under the Securities
Act of 1933.



                        FORM            REGISTRATION NO.
                        ----            ----------------
                                     
                        S-8                 33-00958
                        S-8                 333-5916
                        S-8                 333-8470
                        S-8                 333-9130
                        F-3                 33-13564
                        F-3                 333-6132


1    Management's Discussion and Analysis of Financial Condition and Results of
     Operations of the registrant as at and for the period ended December 31,
     2003.

2    Consolidated comparative interim unaudited financial statements of the
     registrant for the twelve month period ended December 31, 2003 (included
     in the registrant's Fourth Quarter 2003 Quarterly Report to Shareholders).

3    U.S. GAAP reconciliation of the consolidated comparative interim unaudited
     financial statements of the registrant contained in the registrant's
     Fourth Quarter 2003 Quarterly Report to Shareholders.

                                      II

A copy of the Registrant's news release of January 27, 2004 and listed in the
Exhibit Index to this Form 6-K, is furnished herewith. This news release is
being furnished, not filed, and will not be incorporated by reference into
any registration statement filed by TransCanada Corporation under the
Securities Exchange Act of 1934, as amended, unless specifically identified
therein as being incorporated therein by reference.


                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                   TRANSCANADA CORPORATION

                                   By: /s/ Russell K. Girling
                                       ---------------------------------------
                                       Russell K. Girling
                                       Executive Vice-President, Corporate
                                       Development and Chief Financial Officer

                                   By: /s/ Lee G. Hobbs
                                       ---------------------------------------
                                       Lee G. Hobbs
                                       Vice-President and Controller

January 28, 2004


                                 EXHIBIT INDEX

1    Management's Discussion and Analysis of Financial Condition and Results of
     Operations of the registrant as at and for the period ended December 31,
     2003.

2    Consolidated comparative interim unaudited financial statements of the
     registrant for the twelve month period ended December 31, 2003 (included
     in the registrant's Fourth Quarter 2003 Quarterly Report to Shareholders).

3    U.S. GAAP reconciliation of the consolidated comparative interim unaudited
     financial statements of the registrant contained in the registrant's Fourth
     Quarter 2003 Quarterly Report to Shareholders.

4    Certification of Chief Executive Officer pursuant to Section 302 of the
     Sarbanes-Oxley Act.

5    Certification of Chief Financial Officer pursuant to Section 302 of the
     Sarbanes-Oxley Act.

6    Certification of Chief Executive Officer regarding Periodic Report
     containing Financial Statements.

7    Certification of Chief Financial Officer regarding Periodic Report
     containing Financial Statements.

8    A copy of the Registrant's news release of January 27, 2004.