Adds latest prices

By Scott DiSavino

May 22 (Reuters) -U.S. natural gas futures jumped about 6% to a four-month highon Wednesday on lifted forecasts for weekly demand and as more gas was flowing to liquefied natural gas (LNG) export plantswith flows to Freeport LNG's plant in Texas up to an 11-month high.

Prices were also supported by analyst forecasts that utilities injected a smaller-than-usual amount of gas into storage for a fourth week in a row.

Analysts estimated there was about 29% more gas in storage than usual for this time of year. EIA/GAS NGAS/POLL

Front-month gas futures NGc1 for June delivery on the New York Mercantile Exchange rose 17.1 cents, or 6.4%, to settle at $2.842 per million British thermal units (mmBtu), their highest close since Jan. 17.

That kept thefront-month in technically overbought territory for a 14th day in a row for the first time since June 2016.

In other news, U.S. gas pipeline ventureMountain Valley Pipeline pushed back the target in-service date of its long-delayed pipe from West Virginia to Virginia to early June from the prior target of "prior to June 1".

SUPPLY AND DEMAND

Financial firm LSEG said gas output in the Lower 48 U.S. states fell to an average of 97.3 billion cubic feet per day (bcfd) so far in May, down from 98.2 bcfd in April. That compares with a monthly record of 105.5 bcfd in December 2023.

On a daily basis, outputwas up about 0.7 bcfd since hitting a 15-week low of 96.2 bcfd on May 1. Energy traders said that increase was a sign the 63% gain in futures prices over the past three weeks likelyprompted some drillers to start producing more gas.

U.S. gas production was still down by around 9% so far in 2024 after several energy firms, including EQT EQT.N and Chesapeake Energy CHK.O, delayed well completions and cut back on other drilling activities after prices fell to 3-1/2-year lows in February and March.

EQT is the biggest U.S. gas producer and Chesapeake is on track to become the biggest producer after its merger with Southwestern Energy SWN.N.Meteorologists projected weather across the Lower 48 states would be warmer than normal from May 22-27 and then again from June 2-6 with a near normal stretch in the middle from May 28-June 1.

LSEG forecast gas demand in the Lower 48, including exports, would ease from 92.6 bcfd this week to 91.8 next week. The forecast for this week was higher than LSEG forecast on Tuesday, while its forecast for next week was lower.

Gas flows to the seven big U.S. LNG export plants rose from an average of 11.9 bcfd in April to 12.7 bcfd so far in May with the return of Freeport LNG's 2.1-bcfd plant in Texas. That compares with a monthly record of 14.7 bcfd in December. With no new plants expected to enter service until later in 2024, average LNG feedgas was 13.1 bcfd so far this year, the same as in 2023.

On a daily basis, flows to Freeport were on track to reach an 11-month high of 2.2 bcfd on Wednesday, up from 2.1 bcfd on Tuesday, while flows to U.S. energy company Kinder Morgan's KMI.N Elba Island in Georgia were on track to slide to a four-month low of 0.3 bcfd on Wednesday from a four-month high of 0.4 bcfd on Tuesday.

Reporting by Scott DiSavino; editing by Philippa Fletcher and David Gregorio

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