Here is the paper by Takayuki Saitoh et al.: [link to arxiv.org]

Abstract:
A compact gas cloud G2 (Gillessen+2012) is predicted to reach the pericentre of its orbit around the super massive black hole (SMBH) of our galaxy, Sagittarius (Sgr A*), by summer 2013. This event will give us a rare opportunity to observe the interaction between SMBH and gas around it. We report the result of the fully three-dimensional simulation of the evolution of G2 during the first pericentre passage. The strong tidal force by the SMBH stretches the cloud along its orbit, and compress it strongly in the vertical direction, resulting in the heating up and flaring up of the cloud. The bolometric luminosity will reach the maximum of 100 Lsol by July 2013. This flare should be easily observed in the near infrared.

Bolometric luminosity means the total amount of energy radiated by an object, i.e. not the brightness as seen from a distance.

Here is their website: [link to v1.jmlab.jp]