Iran has yet to allow a single carrier loaded with liquefied natural gas (LNG) to pass through the Strait of Hormuz in weeks
of war, according to traders involved in the transit, a ban that risks exacerbating global shortages.

Two tankers loaded with Qatari LNG appeared to be making an exit from the Persian Gulf on Monday, only to U-turn within hours.

They were denied clearance by Iranian officials, said the traders, who requested anonymity as they aren’t authorized to speak with media.

That abrupt reversal underlines an apparent interdiction in place since the US and Israel began strikes on Iran at the end of February.

Traffic through the strait has dropped sharply since then, but oil tankers and others have trickled through the narrow waterway, usually with Iranian permission — while a fifth of the world’s LNG supply remains cut off.

Instead, loaded carriers are currently scattered around the gulf, either because they aren’t currently part of talks with Iran for passage, or haven’t been granted approval, the people said.

Ship-tracking data show over a dozen loaded LNG tankers idling in the area.

It is possible that vessels escaped detection by turning off their transponders or that signal jamming impeded accurate tracking. Traders and ship-tracking data, however, point to only one LNG tanker which traveled through Hormuz earlier this month — without a cargo.

Qatar has been forced to shut its giant Ras Laffan export plant following Iranian attacks last month. Even so, resuming traffic through Hormuz would be a boost, as free passage would allow the country to send shipments that are already loaded.

It could also offload fuel from storage, and even begin planning to restart parts of its export plant.

Without that gas, the conflict in the Middle East has turned a market with looming oversupply into one contemplating a shortfall. That has sent consumers seeking alternative fuels — Japan and Bangladesh are among nations that are already turning back to rely more on dirtier coal, while Taiwan has spent hundreds of millions of dollars to secure spot LNG cargoes.

Global exports of LNG fell to a six-month low in March, while imports to Asia dropped the most since 2022.

Countries including Pakistan, Thailand and India have made agreements with Iran to secure access to trapped oil tankers. In recent days, even vessels with links to Japan and France have secured passage, though the details behind those transits are unclear.

US President Donald Trump insisted that freedom of navigation through Hormuz be part of any deal to end the war with Iran. He  said on April 7 that reopening the strait was “a very big priority.”