Iran has blocked the Strait of Hormuz for several weeks, and industry insiders say that so far, no LNG ships have departed with cargo.

Golden Finance reports that on April 7, according to traders involved in related shipping, since the fighting broke out several weeks ago, Iran has not yet allowed any LNG-carrying vessels to pass through the Strait of Hormuz. This ban could worsen global supply shortages. On Monday, two tankers loaded with Qatar LNG appeared to be preparing to leave the Persian Gulf, but a few hours later they turned around and headed back. Traders said the two ships did not receive clearance from Iranian officials. This sudden reversal highlights that since the United States and Israel began airstrikes against Iran in late February, the Strait of Hormuz has apparently been under blockade. Since then, the volume of vessel traffic through the strait has dropped significantly, but tankers and other ships have still had sporadic passage, which typically requires Iran’s permission—while about one-fifth of global LNG supply remains cut off.

Insiders said that currently, fully loaded LNG transport ships are dispersed around the Persian Gulf, either because they have not yet entered negotiations with Iran regarding passage or because they have not yet been approved. Vessel-tracking data shows that in the region, more than a dozen fully loaded LNG transport ships are stuck. It is also possible that some vessels have evaded monitoring by shutting off their transponders, or that signal interference has led to less accurate tracking. However, both traders and the vessel-tracking data point to this: earlier in the month, only one LNG transport ship managed to leave the Strait of Hormuz—but it was not carrying cargo.