By Scott DiSavino

May 6 (Reuters) - U.S. natural gas futures eased about 1% on Tuesday on forecasts for lower demand over the next two weeks than previously expected and a decline in the amount of gas flowing to liquefied natural gas export plants for spring maintenance.

That price decline came despite a continued drop in output in recent weeks.

Gas futures NGc1 for June delivery on the New York Mercantile Exchange fell 2.0 cents, or 0.6%, to $3.53 per million British thermal units.

Looking forward, the premium of futures for July over June NGM25-N25 rose to a record 34 cents per mmBtu.

Analysts said mild weather expected to last through at least late May should keep heating and cooling demand low, allowing utilities to continue injecting more gas into storage than normal for this time of year.

Gas stockpiles were around 1% above the five-year normal.

Inventories had been below normal from mid-January through late April after utilities pulled a monthly record 1.013 billion cubic feet of gas from storage in January to keep homes and businesses warm during extreme cold weather this winter. EIA/GAS GAS/POLL

Some analysts said mild weather and record output this spring could allow energy firms to add record amounts of gas into storage in May. The current all-time monthly injection high of 494 bcf was set in May 2015.

SUPPLY AND DEMAND

Financial firm LSEG said average gas output in the Lower 48 U.S. states fell to 103.6 billion cubic feet per day so far in May, down from a monthly record of 105.8 bcfd in April.

Since gas output hit a daily record high of 17.4 bcfd on April 18, production was on track to drop by around 4.8 bcfd to a preliminary 10-week low of 102.6 bcfd on Tuesday. Analysts have noted that preliminary data is often revised later in the day.

Meteorologists projected temperatures in the Lower 48 states would remain mostly warmer than normal through May 21.

LSEG forecast average gas demand in the Lower 48, including exports, will slide from 96.3 bcfd this week to 94.7 bcfd next week. Those forecasts were lower than LSEG's outlook on Monday.

The average amount of gas flowing to the eight big LNG export plants operating in the U.S. fell to 15.2 bcfd so far in May, down from a monthly record of 16.0 bcfd in April.

On a daily basis, LNG feedgas was on track to drop to a preliminary seven-week low of 14.2 bcfd on Tuesday due mostly to a decline in flows to Cameron LNG's 2.0-bcfd plant in operation in Louisiana and Cheniere Energy's LNG.N 3.9-bcfd Corpus Christi in operation and under construction in Texas.

Gas flows to Cameron were on track to hold around 1.1 bcfd on Monday and Tuesday, down from an average of 1.8 bcfd over the prior seven days, while flows to Corpus were on track to drop to 1.5 bcfd on Tuesday, down from an average of 2.2 bcfd over the prior seven days.

Officials at both Cameron LNG and Cheniere were not immediately available for comment on the feedgas reductions. The companies, however, have told customers in separate postings that they were conducting maintenance pipelines and other equipment that supplies gas to their plants.

Energy traders noted the feedgas reductions and pipeline work was likely all part of normal maintenance done in the spring and autumn when demand for gas for heating and cooling is low.

The U.S. became the world's biggest LNG supplier in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more exports, due in part to supply disruptions and sanctions linked to Russia's 2022 invasion of Ukraine.

Gas was trading around $12 per mmBtu at the Dutch Title Transfer Facility TRNLTTFMc1 benchmark in Europe and $11 the Japan Korea Marker JKMc1 benchmark in Asia. NG/EU

(Reporting by Scott DiSavino; editing by David Evans)

((scott.disavino@thomsonreuters.com; +1 332 219 1922; Reuters Messaging: scott.disavino.thomsonreuters.com@reuters.net))

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