Japan,the world's largest LNG buyer,is facing a major financial headache as a result of the strength in oil prices.Several term LNG suppliers are now seeking to raise the price of crude-linked LNG sold to Japan by tweaking its traditionally protective S-Curve pricing formula.Japan's LNG import prices-and,indeed,South Korea's-are based on the S-Curve formula,which closely tracks crude price gains until a point,pegged at 28-29 per barrel under many of Japan's original term contracts,beyond which the linkage flattens significantly.
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