Accord Energy is an energy trading company aiming to become a key player in the trading of fuels in the UK and also in Europe as market opportunities arise. Accord's primary focus is the buying and selling of short term gas in the wholesale market and the development of a liquid UK spot market in gas. Formed in 1994 and based in Holborn, London, Accord is a joint venture between NGC Corporation of Houston, Texas (49 per cent) and Centrica plc (51 per cent) in which NGC and Centrica currently have voting parity. Accord's net assets were valued at £9.2 million as at 31 September 1996. In the 12 months up to 30 September 1996 the joint venture partners received in aggregate a dividend of approximately £22 million from Accord. BG, Nova and Chevron each have a 26 per cent shareholding in NGC Corporation. The remaining shares are publicly traded (11 per cent), or held by the management and the employees of NGC Corporation.
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