Global LNG prices hold steady despite Egypt large tender

Asian spot liquefied natural gas (LNG) prices were steady on Friday as a mild winter continued to curb demand from many of the traditional LNG destinations.

The spot price LNG-AS for February was steady at about $10.00 per million British thermal units (mmBtu), in line with the previous week. Traders said, however, that prices were nominal given there was very limited activity.

"The market is completely dead," said a trader, adding that winter temperatures were "very high" which had hit demand.

A second trader said he was not aware of any new business being concluded this week, making it difficult to pin down prices.

The LNG market has been slowly declining since September as energy prices generally have been hit by a slide in oil. Brent crude held near its weakest level in more than five years on Friday, as a global supply glut and weak demand weighed.