SYDNEY (AFP) - Australia’s second largest energy retailer Origin Energy Ltd. said Wednesday it had requested a trading halt as it expected to make an announcement on a 12.9 billion dollar (12.3 billion US dollar) takeover offer from British energy giant BG Group by Friday.

In April, BG offered 14.70 dollars a share for Origin in a move seen as an attempt to bolster its position in Australia’s fast growing coal seam gas industry, where Origin is the leading group in terms of reserves.
The offer represented a 40.4 percent premium to Origin’s share price of 10.47 dollars a day before the offer was made. On Tuesday, Origin shares closed at 14.60.
BG has been in talks with Origin, seeking to win the support of the company’s board for the offer.
One of the world’s most active liquefied natural gas traders, BG is the UK’s third-largest natural gas producer.
The company has been active in Australia this year, striking an agreement with coal seam gas producer Queensland Gas Company Ltd to build an 8.0 billion dollar LNG plant in the north-eastern state of Queensland.
Origin in recent years has moved to gain the number one position in the fast-growing Australian coal seam gas sector.
The company currently has 4,578 petajoules of coal seam methane in proven, probable and possible (3P) reserves and potentially double this in nearby acreages.