March 18 (Bloomberg) -- The U.S. may import less liquefied natural gas this year as project delays and cold weather in Asia and Europe reduce supplies, investment bank Tudor, Pickering, Holt & Co. said.

LNG supplies to the U.S. may fall to 2 billion cubic feet a day of gas this year from 2.1 billion in 2007, or 3.3 percent of total U.S. gas consumption, Tudor analyst Stacy Nieuwoudt said in an e-mail today. Last month Nieuwoudt estimated the U.S. would import 2.4 billion in 2008.

Globally, LNG supply growth may halve to 4.5 percent in 2008 because of delays in projects and government approvals, U.K.-based industry consultant Andy Flower said on March 10. LNG imports to the U.S. have also fallen because suppliers including BG Group Plc rerouted cargoes this winter after utilities in Europe and Asia paid more than double the U.S. benchmark.

``The forecast for U.S. LNG imports has moved lower with lingering Asian-European winter weather and liquefaction delays,'' Nieuwoudt said.

The average price of natural gas in 2008 in the U.S. may be around $9.94 for a thousand cubic feet, or about $9.67 per million British thermal units, Nieuwoudt said.

The U.S. was the world's fourth-biggest LNG importer in 2006 behind Japan, South Korea and Spain, importing about 1.6 billion cubic feet of gas a day, according to the BP Statistical Review of World Energy. This month, LNG supplies to the U.S. declined to 800 million cubic feet a day from 2.6 billion a year ago, Nieuwoudt said.

Supplies in April may rise compared with March because new LNG terminals in Sabine Pass, Louisiana and Freeport, Texas may import additional cargoes for tests, Nieuwoudt said. The U.S. may open three LNG import terminals this year, she said.

LNG is natural gas chilled to liquid form to aid transportation. On arrival, it's turned back into gas for distribution to power plants, factories and households.

To contact the reporter on this story: Dinakar Sethuraman in Singapore at dinakar@bloomberg.net

Last Updated: March 18, 2008 03:54 EDT