Adds latest prices

By Scott DiSavino

April 29 (Reuters) -U.S. natural gas futures jumped about 6% to a 12-week high on Monday with the start of the higher priced June contract as the front-month andforecasts for more demand than previously expected due in part toan increase in feedgas atFreeport LNG's export plant in Texas.

On its first day as the front-month, gas futures NGc1 for June delivery on the New York Mercantile Exchange rose 10.7 cents, or 5.6%, from where the June contract closed on Friday to settle at $2.030 per million British thermal units (mmBtu) on Monday.

That was the front-month's highest close since Feb. 5 and put itup about 26% from where the May contract closed when it was still the front-month on Friday.

That was also thecontract's biggest daily percentage increase since January 2022 when it jumped by a record 46.5% around the time the front-month switched from February to March.

In the spot market, power and gas prices in many states, including Texas, California and Arizona, have traded below zero several times over the past month or sodue to low demand, ample renewable power supplies and pipeline outages and other workthat has trapped gas in Texas.

In California, next-day power at South Path-15 (SP-15) EL-PK-SP15-SNL in Southern California fell to a record low of negative $20 per megawatt hour (MWh) on April 26, down from positive $4 on April 25. That compares with the prior all-time low of negative $15 on April 5.

Next-day gas at the Southern California Border NG-SCL-CGT-SNL fell to positive$1.35 per mmBtu, its lowest since hitting a record low of $1.14 in June 2019, while spot gas at the PG&E hub NG-CG-PGE-SN in Northern California fell to $1.85, its lowest since July 2019.

In Canada, next-day gas at the AECO hub NG-ASH-ALB-SNL in Alberta fell to positive 70 cents per mmBtu,its lowest since October 2022 for a fourth day in a row.

SUPPLY AND DEMAND

Financial firm LSEG said gas output in the Lower 48 U.S. states fell to an average of 97.7 billion cubic feet per day (bcfd) so far in April, down from 100.8 bcfd in March. That compares with a monthly record of 105.6 bcfd in December 2023.

On a daily basis, output was on track to drop by 1.4 bcfd over the past five days to a preliminary 14-week low of 95.7 bcfd on Monday.

Meteorologists projected weather across the Lower 48 states would remain mostly warmer than normal through May 11 before turning near normal from May 12-14.

LSEG forecast gas demand in the Lower 48, including exports, would hold near 92.8 bcfd this week and next. Those forecasts were higher than LSEG's outlook on Friday.

Gas flows to the seven big U.S. liquefied natural gas (LNG) export plants slid to an average of 11.9 bcfd so far in April, down from 13.1 bcfd in March. That compares with a monthly record of 14.7 bcfd in December.

On a daily basis, LNG feedgas was on track to rise from 12.2 bcfd on Sunday to a preliminary three-week high of 12.9 bcfd on Monday on signs that at least one of three liquefaction trains at Freeport LNG's export plant in Texas was exiting an outage.

Reporting by Scott DiSavino
Editing by Marguerita Choy and Sharon Singleton

For gas data on LSEG's Eikon type ENERGY in the search bar and then go to the GAS drop down and the NORTH AMERICA drop down.

For Interactive Map, type 'Interactive Map' in the box at upper left of the Eikon terminal

For graphics on Baker Hughes rig counts, see: http://graphics.thomsonreuters.com/15/rigcount/index.html

For next-day SNL U.S. gas prices, see: 0#SNL-NG

For next-day SNL U.S. power prices, see: 0#SNL-PWR

For U.S. natgas price and storage polls, see: NGAS/POLL

For U.S. nuclear power outages, see: NUKE/

For U.S. Northwest hydro power report, see: NWRFC

For U.S./Canada natural gas rig count vs Henry Hub futures price, see: http://tmsnrt.rs/2eT9k44

For the U.S. natural gas speed guide, see: USGAS

For the U.S. power speed guide, see: USPOWER

To determine CFTC managed money net position add (NYMEX Henry Hub options and futures combined 3023651MNET) plus (ICE Henry Hub options and futures combined 3023391MNET divided by four) plus (NYMEX Henry Hub swaps options and futures combined 303565BMNET divided by four) plus (NYMEX Henry Hub penultimate gas swaps 303565CMNET divided by four)

NYMEX Henry Hub options and futures combined 0#3CFTC023651

NYMEX Henry Hub futures only 0#1CFTC023651

ICE Henry Hub options and futures combined 0#3CFTC023391

NYMEX Henry Hub swaps options and futures combined 0#3CFTC03565B

NYMEX Henry Hub Penultimate gas swaps 0#3CFTC03565C