(Adds comment from operator BP)
By David Sheppard
LONDON, Aug 28 (Reuters) - The supertanker jetty at theNorth Sea's Hound Point crude oil terminal is shut formaintenance and will not reopen until Sept. 15, operator BP Plc said on Thursday, making sending excess cargoes to Asiamore difficult for traders.
The Hound Point jetty has two berths, but only Jetty 1 islarge enough for the Very Large Crude Carriers (VLCC) thattraders normally use to send cargoes to Asia.
"Hound Point 1 berth will be closed to carry outmaintenance. The berth won't be available for loading from 26thAugust 2014 until the work is complete, which we estimate as15th Sept 2014," BP said in a statement.
"Hound Point 2 berth is fully available for normaloperations. Only vessels suitable for Hound Point 2 jetty willbe accepted during this period."
A glut of crude in the Atlantic Basin has depressed pricedifferentials in the North Sea close to multi-year lows, leadingto expectations more cargoes would sail east.
But without the economies of scale of using VLCCs thearbitrage trade is less workable, potentially pressuring Fortiesand other North Sea crudes that underpin Brent oil futures. (Reporting by David Sheppard; Editing by David Clarke and MarkPotter)
BP (BP.)
