The invention provides a method and apparatus for measuring one or more optical properties, such as absorbance and refractive index, of a test medium such as a gas, a liquid, or solid material. The method comprises providing a passive optical waveguide loop comprising the test medium, launching in the optical loop an intensity-modulated light at a reference phase, detecting a phase of said light along the optical waveguide loop, and comparing the detected phase of said light along the loop with the reference phase, wherein the comparison provides information about one or more optical properties of the test medium.