New U.S., Australian supply could double Europe's LNG imports -BG

* Europe's LNG imports in 2014 just one-third of capacity

* New (KOSDAQ: 160550.KQ - news) supply due by end of decade

AMSTERDAM, April 13 (Reuters) - New supply from the United (Shenzhen: 000925.SZ - news) States could help double Europe's imports of liquefied natural gas (LNG) starting around 2020, while supplies are likely to remain steady until then, a BG Group (LSE: BG.L - news) executive said on Monday.

Europe imported just 33 million tonnes of LNG in 2014, far below its import capacity of 100 million tonnes per annum (mtpa), as traders diverted cargoes to higher-paying Asian markets.

But a recent slump in Asian demand has raised hopes that Europe may attract more cargoes into its under-used import terminals, Andrew Walker, BG vice-president of global LNG supply, told the Flame gas conference in Amsterdam.

Walker said European terminals should see inbound volumes rise to 2010 levels by the turn of the decade on new U.S. and Australian supplies.

Europe imported around 65 mtpa of LNG in 2010, according to a slide presented by Walker.

"There will be no huge flood of volumes coming back to Europe in the next few years, probably it will be more or less like last year give-or-take seasonal variations," he said.

"The ebb and flow of volumes will benefit Europe at times but some of those times could be quite short," Walker said.

Walker said that Asia continues to show signs of LNG demand growth despite a recent slowdown and will remain the predominant buyer.

But European LNG imports are also up on last year's levels as Chinese demand slows and cheaper coal curbs South Korean buying. (Reporting by Oleg Vukmanovic in Amsterdam; editing by Jason Neely)