France captain Lloris, an £8 million signing from Lyon on transfer deadline day, was expected to go straight in to the first XI, but Spurs boss Andre Villas-Boas retained Friedel in goal for Sunday's 3-1 win over Reading after the American put in an outstanding display in the previous fixture against Norwich.
Friedel told talkSPORT: "We have friendly, and healthy, competition for places. Hopefully we will have long runs in all the cup competitions and there's going to be plenty of matches to share around."
Villas-Boas' public vow to keep Friedel as his number one did not go down well with the Frenchman, or his national manager Didier Deschamps, but the Portuguese insists the 25-year-old must earn his right to win the number one jersey.
Friedel, who played his 308th consecutive Premier League game against the Royals, has no qualms about the competition between himself, Lloris, and Spurs' other two goalkeepers Heurelho Gomes and Carlo Cudicini.
The American added: "Hugo has come in and is a really nice person. He's a super goalkeeper but we have two other really good goalkeepers in Heurelho Gomes and Carlo Cudicini."
Lloris, who was among the substitutes on Sunday but may start Thursday's Europa League clash against Lazio at White Hart Lane, told L'Equipe: "I am in an adaptation period, I've had very few training sessions, and there are players that I didn't know. But I am expecting time on the pitch.
"Things were very clear from the start on Sunday. I was at the disposal of (Tottenham goalkeeping coach) Tony Parks and Brad Friedel.
"That pitch, that atmosphere, that gives you desire to play. Moreover we got three points that made us start our season. For me, it is a period to manage. Obviously I have desire. I came here to play.
"I am at the club, I know where I have to go to. I had a talk with the coach, as he said, and I know everyone at Tottenham wanted me to come."