Global integrated gas major BG Group has proposed a $12.9 billion takeover of Origin Energy. Origin says it has not yet considered the proposal from BG Group to acquire each share for $14.70 cash. Headquartered in the UK, BG Group operates in a number of sectors, including LNG, transmission and distribution across 27 countries. In April 2008, Queensland Gas Company formed an alliance with BG Group with a joint commitment for the annual export of up to 4 million tonnes of liquefied natural gas from an LNG plant proposed to be built near Gladstone on the central Queensland coast. QGC will supply the LNG plant with 190 pj of coal seam gas a year from the company’s tenements in the Surat Basin. The project is scheduled to export its first shipment of LNG in 2013.
