Hormuz LNG Shipments Spike, But Middle East Supply Remains Constrained

The Strait of Hormuz has seen its highest level of liquefied natural gas (LNG) shipments since the Iran war began, according to shipping data compiled by Reuters. In September, a total of 21 LNG cargoes exited the chokepoint, exceeding the previous high in June, when 15 cargoes were shipped through.

Despite this improvement, LNG flows remain far below pre-war levels, exposing Europe and Asia to elevated prices and winter supply risks. Shipment analytics firm Kpler estimated that 21 cargoes managed to squeeze through the Strait of Hormuz last month, while S&P Global Energy counted 19.

Tankers are increasingly making 'dark transits' with AIS (Automatic Identification System) transponders switched off, making commercial vessel tracking more difficult. This complicates estimates about flows and global supply balances.