Exclusive economic zone
An exclusive economic zone (EEZ) is a sea zone prescribed by the United Nations Convention on the Law of the Sea over which a state has special rights regarding the exploration and use of marine resources, including energy production from water and wind. It stretches from the baseline out to 200 nautical miles from its coast. In colloquial usage, the term may include the continental shelf. The term does not include either the territorial sea or the continental shelf beyond the 200 n.m. limit. The difference between the territorial sea and the exclusive economic zone is that the first confers full sovereignty over the waters, whereas the second is merely a "sovereign right" which refers to the coastal state's rights below the surface of the sea. The surface waters, as can be seen in the map, are international waters.
- 1 Definition
- 2 Origin
- 3 Disputes
- 4 Transboundary stocks
- 5 Exclusive economic zone by country
- 5.1 Argentina
- 5.2 Australia
- 5.3 Brazil
- 5.4 Canada
- 5.5 Chile
- 5.6 People's Republic of China
- 5.7 Cyprus
- 5.8 Denmark
- 5.9 France
- 5.10 Greece
- 5.11 India
- 5.12 Israel
- 5.13 Japan
- 5.14 Mexico
- 5.15 New Zealand
- 5.16 Northern Cyprus
- 5.17 Norway
- 5.18 Pakistan
- 5.19 Philippines
- 5.20 Poland
- 5.21 Portugal
- 5.22 Russia
- 5.23 South Africa
- 5.24 Republic of Korea (South Korea)
- 5.25 United Kingdom
- 5.26 United States
- 6 Rankings by area
- 7 See also
- 8 Notes and references
- 9 External links
Generally, a state's EEZ extends to a distance of 200 nautical miles (370 km) out from its coastal baseline. The exception to this rule occurs when EEZs would overlap; that is, state coastal baselines are less than 400 nautical miles (740 km) apart. When an overlap occurs, it is up to the states to delineate the actual maritime boundary. Generally, any point within an overlapping area defaults to the nearest state.
A state's exclusive economic zone starts at the landward edge of its territorial sea and extends outward to a distance of 200 nautical miles (370.4 km) from the baseline. The exclusive economic zone stretches much further into sea than the territorial waters, which end at 12 NM (22 km) from the coastal baseline (if following the rules set out in the UN Convention on the Law of the Sea). Thus, the EEZ includes the contiguous zone. States also have rights to the seabed of what is called the continental shelf up to 350 nautical miles (648 km) from the coastal baseline, beyond the EEZ, but such areas are not part of their EEZ. The legal definition of the continental shelf does not directly correspond to the geological meaning of the term, as it also includes the continental rise and slope, and the entire seabed within the EEZ.
The idea of allotting nations EEZs to give them more control of maritime affairs outside territorial limits gained acceptance in the late 20th century.
Initially, a country's sovereign territorial waters extended 3 nautical miles or 6 km (range of cannon shot) beyond the shore. In modern times, a country's sovereign territorial waters extend to 12 nautical miles (~22 km) beyond the shore. One of the first assertions of exclusive jurisdiction beyond the traditional territorial seas was made by the United States of America in the Truman Proclamation of September 28, 1945. However, it was Chile and Peru respectively that first claimed maritime zones of 200 nautical miles with the Presidential Declaration Concerning Continental Shelf of 23 June 1947 (El Mercurio, Santiago de Chile, 29 June 1947) and Presidential Decree No. 781 of 1 August 1947 (El Peruano: Diario Oficial. Vol. 107, No. 1983, 11 August 1947).
It was not until 1982 with the UN Convention on the Law of the Sea that the 200 nautical mile exclusive economic zone was formally adopted as:
Part V, Article 55 of the Convention states:
- Specific legal regime of the exclusive economic zone
- The exclusive economic zone is an area beyond and adjacent to the territorial sea, subject to the specific legal regime established in this Part, under which the rights and jurisdiction of the coastal State and the rights and freedoms of other States are governed by the relevant provisions of this Convention.
The exact extent of exclusive economic zones is a common source of conflicts between states over marine waters.
- One well-known example of such dispute was the Cod Wars between the United Kingdom and Iceland.
- Norway and Russia dispute both territorial sea and EEZ with regard to the Svalbard archipelago as it affects Russia's EEZ due to its unique treaty status. A treaty was agreed in principle in April 2010 between the two states and subsequently ratified, resolving this demarcation dispute. The agreement was signed in Murmansk on September 15, 2010.
- The South China Sea (and the Spratly Islands) is the site of an ongoing dispute between several neighboring nations.
- Croatia's ZERP (Ecological and Fisheries Protection Zone) in the Adriatic Sea caused friction with Italy and Slovenia, and caused problems during Croatia's accession to the European Union.
- A wedge-shaped section of the Beaufort Sea is disputed between Canada and the United States, as the area reportedly contains substantial oil reserves.
- France claims a portion of Canada's EEZ for Saint-Pierre-et-Miquelon based on a new definition of the continental shelf and EEZ between the two countries. Saint-Pierre-et-Miquelon is entirely surrounded by Canada's EEZ.
- Mauritius claims EEZ for Tromelin from France and EEZ for British Indian Ocean Territory from the UK.
- Northern Cyprus claims a portion of Cyprus' EEZ overlaps with that of Northern Cyprus in the south/southeastern part of the Cyprus island.
- Cyprus claims a portion of Turkey's EEZ overlaps with its own EEZ.
- Lebanon claims that the agreement between Cyprus and Israel overlapped its own EEZ.
Fisheries management, usually adhering to guidelines set by the FAO, provides significant practical mechanisms for the control of EEZs. Transboundary fish stocks are an important concept in this control. Transboundary stocks are fish stocks that range in the EEZs of at least two countries. Straddling stocks, on the other hand, range both within an EEZ as well as in the high seas, outside any EEZ. A stock can be both transboundary and straddling.
Exclusive economic zone by country
- Seas and Submerged Lands Act 1973
Australia has the third largest exclusive economic zone, behind the United States and France, but ahead of Russia, with the total area actually exceeding that of its land territory. Per the UN convention, Australia's EEZ generally extends 200 nautical miles (370 km) from the coastline of Australia and its external territories, except where a maritime delimitation agreement exists with another state.
The United Nations Commission on the Limits of the Continental Shelf confirmed, in April 2008, Australia's rights over an additional 2.5 million square kilometres of seabed beyond the limits of Australia's EEZ. Australia also claimed, in its submission to the UN Commission on the Limits of the Continental Shelf, additional Continental Shelf past its EEZ from the Australian Antarctic Territory, but these claims were deferred on Australia's request. However, Australia's EEZ from its Antarctic Territory is approximately 2 million square kilometres.
|Heard and McDonald Islands||410,722|
|Mainland Australia, Tasmania and minor islands||6,048,681|
|Australian Antarctic Territory||2,000,000[status 1]|
Brazil's exclusive economic zone covers 3,660,995 km2.
In 2004, the country submitted its claims to the United Nations Commission on the Limits of the Continental Shelf (CLCS) to extend its maritime continental margin.
Canada is unusual in that its exclusive economic zone, covering 2,755,564 km2, is slightly smaller than its territorial waters. The latter generally extend only 12 nautical miles from the shore, but also include inland marine waters such as Hudson Bay (about 300 nautical miles (560 km; 350 mi) across), the Gulf of Saint Lawrence and the internal waters of the Arctic archipelago.
|Region||EEZ Area (km2)||Land area||Total|
|Mainland||2 009 299||755 757||2 765 056|
|Easter||720 395||164||720 559|
|Juan Fernandez||502 490|
|Total||3 681 989||756 102||4 438 091|
There is a dispute with Peru over the extension of Chile's EEZ: Chilean–Peruvian maritime dispute
People's Republic of China
The first figure excludes all disputed waters, while the last figure indicates China's claimed boundaries, and does not take into account neighboring powers' claims.
The Exclusive Economic Zone of Cyprus covers more than 70,000km2 and is divided between 13 exploration blocks. The process of the establishment of Cyprus, Israel and Lebanon Exclusive Economic Zones was held in Nicosia in 2010 with separate meetings between each country. Cyprus and Israel as part of their wider cooperation have agreed to start their gas explorations with a common American company, specifically Noble Energy. Cypriot and Israeli governments are discussing to export their natural gas through the shipping of compressed Natural Gas to Greece and then to the rest of Europe or through a subsea Pipelines starting from Israel and then leading to Greece via Cyprus.
The Kingdom of Denmark includes the autonomous province (selvstyre) of Greenland and the self-governing (hjemmestyre) province of the Faroe Islands. The EEZs of the latter two do not form part of the EEZ of the European Union.
|Region||EEZ & TW Area (km2)||Land area||Total|
|Denmark||105 989||42 506||149 083|
|Faroe Islands||260 995||1 399||262 394|
|Greenland||2 184 254||2 166 086||4 350 340|
|Total||2 551 238||2 210 579||4 761 817|
Due to its numerous Overseas departments and territories scattered on all oceans of the planet, France possesses the second-largest EEZ in the world, covering 11,035,000 km2 (4,260,000 mi2), just behind the EEZ of the United States (11,351,000 km2 / 4,383,000 mi2), but ahead of the EEZ of Australia (8,148,250 km2 / 4,111,312 mi2). The EEZ of France covers approximately 8% of the total surface of all the EEZs of the world, whereas the land area of the French Republic is only 0.45% of the total land area of the Earth.
|Region||EEZ & TW Area (km2)||Land area||Total|
|Metropolitan France||334 604||551 695||886 299|
|French Guiana||133 949||83 846||217 795|
|Guadeloupe||95 978||1 628||97 606|
|Martinique||47 640||1 128||48 768|
|Réunion||315 058||2 512||317 570|
|French Polynesia||4 767 242||4 167||4 771 409|
|Saint Pierre and Miquelon||12 334||242||12 576|
|Mayotte||63 078||376||63 454|
|Wallis and Futuna||258 269||264||258 533|
|Saint-Martin||1 000||53||1 053|
|Saint-Barthélemy||4 000||21||4 021|
|New Caledonia||1 422 543||18 575||1 441 118|
|Clipperton Island||431 263||6||431 269|
|Crozet Islands||574 558||352||574 910|
|Kerguelen Islands||567 732||7 215||574 947|
|Saint Paul and Amsterdam Islands||509 015||66||509 081|
|Scattered islands in the Indian Ocean||352 117||44||352 161|
|Tromelin Island||270 455||1||270 456|
|Total||11 035 000||675 417||11 710 417|
Note, the EEZ (and territorial seas) column only adds up to 10,155,838 square km. All but the two smallest (Saint-Martin and Saint-Barthélemy) components of France's EEZ/territorial seas match those at http://www.seaaroundus.org/eez/, which would be a better reference than the reference given—which only provides EEZ sizes for Australia.
According to published maps, the Israeli government has recognized the Exclusive Economic Zones (EEZ) of Greece and Cyprus. They describe the course of the gas pipeline which will transfer gas produced by American Νoble Εnergy Ltd. from the Leviathan reservoir to Europe, through an undersea pipeline crossing Greece. The gas pipeline should traverse the sea area, which according to international law, is part of the Greek EEZ. By this proposal, Israel recognizes the Greek EEZ in the area and offers an advantage that Greece can use during negotiation procedures to support its claims on the area. In practice, this cooperation will set up a powerful energy coalition between Greece, Cyprus and Israel. The mining and operating part will be undertaken by an American company. "The substance of the issue is that in an effort to protect and secure vital Israeli interests in the Mediterranean Sea, Israel has been left with no choice other than to officially delimit its maritime borders".
- 1,641,514 km2
- Andaman and Nicobar Islands, 663,629 km2
- Total: 2,305,143 km2
India is currently seeking to extend its EEZ to 350 Miles.
In 2010, an EEZ was set within the territorial waters between Israel and Cyprus at the maritime half way point, a clarification essential for safeguarding Israel's rights to oil and underwater gas reservoirs. The agreement was signed in Nicosia by Israeli Infrastructure Minister Uzi Landau and the Cypriot Foreign Minister Markos Kyprianou. The two countries agreed to cooperate in the development of any cross border resources discovered, and to negotiate an agreement on dividing joint resources.
- Marcus Island: 428,875 km2
- Ogasawara Islands: 862,782 km2
- Pacific Ocean (Japan): 1,162,334 km2
- Ryukyu Islands: 1,394,676 km2
- Sea of Japan: 630,721 km2
- Sea of Okhotsk:little
- Total: 4,479,358
Japan has disputes over its EEZ boundaries with all its Asian neighbors (Russia, Republic of Korea, PRC and ROC). The above, and relevant maps at the Sea Around Us Project both indicate Japan's claimed boundaries, and do not take into account neighboring powers' claims.
New Zealand's EEZ covers 4,083,744 km2, which is approximately fifteen times the land area of the country. Sources vary significantly on the size of New Zealand's EEZ; for example, a recent government publication gave the area as roughly 4,300,000 km2. These figures are for the EEZ of New Zealand proper, and do not include the EEZs of other territories in the Realm of New Zealand (Tokelau, Niue, the Cook Islands and the Ross Dependency).
On 21 September 2011, Turkey and the Turkish Republic of Northern Cyprus (TRNC) signed an EEZ border agreement in New York. Turkey is the only country that recognizes the TRNC, see Cyprus dispute.
Norway has a large exclusive economic zone of 819 620 km2 around its coast. The country has a fishing zone of 1,878,953 km2, including fishing zones around Svalbard and Jan Mayen . The fact that the European Union shares its economic zones was a big reason why Norway did not enter the EU as a member.
In April 2009, the United Nations Commission for the Limits of the Continental Shelf approved Norway's claim to an additional 235,000 square kilometres of continental shelf. The commission found that Norway and Russia both had valid claims over a portion of shelf in the Barents Sea.
|Region||EEZ & TW Area (km2)||Land area||Total|
|Mainland||1 273 482||323 802||1 597 284|
|Svalbard||402 574||61 002||463 576|
|Jan Mayen||273 118||373||273 491|
|Bouvet Island||436 004||49||436 053|
|Total||2 385 178||385 226||2 770 404|
- 201,520 km2
Portugal has the 10th largest EEZ in the world. Presently, it is divided in three non-contiguous sub-zones:
Portugal submitted a claim to extend its jurisdiction over additional 2.15 million square kilometers of the neighboring continental shelf in May 2009, resulting in an area with a total of more than 3,877,408 km2. The submission, as well as a detailed map, can be found in the Task Group for the extension of the Continental Shelf website.
Spain disputes the EEZ's southern border, maintaining that it should be drawn halfway between Madeira and the Canary Islands. But Portugal exercises sovereignty over the Savage Islands, a small archipelago north of the Canaries, claiming an EEZ border further south. Spain objects, arguing that the Savage Islands do not have a separate continental shelf, citing article 121 of the United Nations Convention on the Law of the Sea.
- Kaliningrad (Baltic Sea) - 11,634
- St. Petersburg (Baltic Sea) - 12,759
- Barents Sea - 1,308,140
- Black Sea (without the Crimean EEZ) - 66,854
- Pacific - 3,419,202
- Siberia - 3,277,292
- Total - 8,095,881 km2
- Mainland 1 068 659 km2
- Prince Edward islands 466 879 km2
Republic of Korea (South Korea)
Area: 300,851 (225,214) km2
The United Kingdom's exclusive economic zone is the fifth largest in the world at 6,805,586 square km. It comprises the exclusive economic zones surrounding the United Kingdom, the Crown Dependencies, and the British Overseas Territories. The figure does not include the EEZ of the British Antarctic Territory. The exclusive economic zones associated with the Falkland Islands and South Georgia are disputed by Argentina.
|United Kingdom||773,676||298,718||includes Rockall and the Isle of Man|
|British Indian Ocean Territory||638,568||246,552||disputed with Mauritius|
|British Virgin Islands||80,117||30,933|
|Falkland Islands||550,872||212,693||disputed with Argentina|
|Gibraltar||426||164||disputed with Spain|
|South Georgia and the South Sandwich Islands||1,449,532||559,667||disputed with Argentina|
|Tristan da Cunha archipelago†||754,720||291,400|
|Turks and Caicos Islands||154,068||59,486|
†Part of the overseas territory of Saint Helena, Ascension and Tristan da Cunha, which together has an EEZ of 1,641,294 square km.
Only the United Kingdom and Gibraltar are part of the EU. The Channel Islands, the Isle of Man and the remaining overseas territories (that is, all except Gibraltar) are not part of the EU. The United Kingdom has not as yet claimed its rights with regards to Gibraltar or the Sovereign Base Areas in Cyprus.
The United States' exclusive economic zone is the largest in the world, covering 11,351,000 km2. Areas of its EEZ are located in three oceans, the Gulf of Mexico, and the Caribbean Sea.
The sizes of the components of the US EEZ/territorial seas are (in decreasing size):
- Alaska - 3,770,021 km2 (1,455,613 sq mi)
- Hawaii - Northwest Islands - 1,579,538 km2 (609,863 sq mi)
- U.S. East Coast - 915,763 km2 (353,578 sq mi)
- Hawaii - Main Islands - 895,346 km2 (345,695 sq mi)
- U.S. West Coast - 825,549 km2 (318,746 sq mi)
- Northern Marianas - 749,268 km2 (289,294 sq mi)
- Mainland Gulf Coast - 707,832 km2 (273,295 sq mi)
- Johnston Atoll - 442,635 km2 (170,902 sq mi)
- Howland and Baker Islands - 434,921 km2 (167,924 sq mi)
- Wake Island - 407,241 km2 (157,237 sq mi)
- American Samoa - 404,391 km2 (156,136 sq mi)
- Palmyra Atoll and Kingman Reef - 352,300 km2 (136,000 sq mi)
- Jarvis Island - 316,665 km2 (122,265 sq mi)
- Guam - 221,504 km2 (85,523 sq mi)
- Puerto Rico - 177,685 km2 (68,605 sq mi)
- U.S. Virgin Islands - 33,744 km2 (13,029 sq mi)
Total: 12,234,403 km2 (4,723,729 sq mi)
Rankings by area
This list includes dependent territories within their sovereign states (including uninhabited territories), but does not include claims on Antarctica. EEZ+TIA is exclusive economic zone (EEZ) plus total internal area (TIA).
|Country||EEZ km2||Shelf km2||EEZ+TIA km2|
|Federated States of Micronesia||2,996,419||19,403||2,997,121|
|Papua New Guinea||2,402,288||191,256||2,865,128|
|São Tomé and Príncipe||131,397||1,902||132,361|
|Antigua and Barbuda||110,089||4,128||110,531|
|Trinidad and Tobago||74,199||25,284||79,329|
|United Arab Emirates||58,218||57,474||141,818|
|Saint Vincent and the Grenadines||36,302||1,561||36,691|
|Congo, Republic of the||31,017||7,982||373,017|
|Saint Kitts and Nevis||9,974||653||10,235|
|Democratic Republic of the Congo||1,606||1,593||2,346,464|
|Bosnia and Herzegovina||50||50||51,259|
|Central African Republic||622,984|
|Republic of Macedonia||25,713|
- Air Defense Identification Zone
- Continental shelf
- International waters
- R. v. Marshall
- Special economic zone
- Territorial waters
Notes and references
|a.||^ Kosovo is the subject of a territorial dispute between the Republic of Serbia and the Republic of Kosovo. The latter declared independence on 17 February 2008, but Serbia continues to claim it as part of its own sovereign territory. Kosovo's independence has been recognised by 108 out of 193 United Nations member states.|
- The reference gives an approximate figure of 2 million square kilometres for the EEZ claimed by Australia as part of its Antarctic Territory. This is in addition to the 8 million square kilometre total given in the reference. This EEZ is also distinct from the 2.56 million square kilometres of additional continental shelf mentioned in the reference.
- "Part V - Exclusive Economic Zone, Article 56". Law of the Sea. United Nations. Retrieved 2011-08-28.
- "Part V - Exclusive Economic Zone, Articles 55, 56". Law of the Sea. United Nations.
- William R. Slomanson, 2006. Fundamental Perspectives on International Law, 5th edn. Belmont, CA: Thomson-Wadsworth, 294.
- UN Convention on the Law of The Sea.
-  1982 UN Convention on the Law of The Sea.
- The Exclusive Economic Zone: A Historical Perspective. Fao.org. Retrieved on 2013-07-23.
- Russia and Norway Reach Accord on Barents Sea, New York Times, 28 April 2010, Accessed 28 April 2010
- Russia and Norway resolve Arctic border dispute, Guardian, 15 September 2010, Accessed 21 September 2010
- Washington Institute
- Greek Reporter
- The Legal Status of Ice in the Antarctic Region
- FAO: The State of the World Fisheries and Aquaculture 2006 Part3: highlights of Special studies Rome. ISBN 978-92-5-105568-7
- FAO (2007) Report of the FAO workshop on vulnerable ecosystems and destructive fishing in deep sea fisheries Rome, Fisheries Report No. 829.
- Geoscience Australia. 2005. Maritime Boundary Definitions.
- UN confirms Australia’s rights over extra 2.5 million square kilometres of seabed. Minister for Resources and Energy, The Hon Martin Ferguson AM MP, Media Release, 21 April 2008.[dead link]
- Geoscience Australia, 2012. Education: Oceans and Seas
- Division for Ocean Affairs and the Law of the Sea. Commission on the Limits of the Continental Shelf, Submission by Australia
- UN Continental Shelf and UNCLOS Article 76: Brazilian Submission
- Wildlife Habitat Canada. Canada's Marine Waters: Integrating the Boundaries of Politics and Nature.
- See Around Us Project (n/d). "Exclusive Economic Zones (EEZ)". Retrieved 24 March 2011.
EEZ waters of: Chile 2,009,299 km², Desventuradas Isl. 449,805 km², Easter Isl. 720,395 km², J. Fernandez, Felix and Ambrosio Isl. 502,490 km²Check date values in:
- Γραφείο Τύπου και Πληροφοριών - About us. Cyprus.gov.cy. Retrieved on 2013-07-23.
- [dead link]
- EEZ Waters Of Cyprus. Seaaroundus.org. Retrieved on 2013-07-23.
- Indirect Proclamation of EEZ - Greece Gives Coordinates Of Continental Shelf To UN ~ HellasFrappe. Hellasfrappe.blogspot.com.es (2013-02-21). Retrieved on 2013-07-23.
- Israel Recognizes Greek Exclusive Economic Zone | News from Greeks in Africa, Asia, and South America. World.greekreporter.com (2011-02-23). Retrieved on 2013-07-23.
- Israel defends energy exploration deal with Cyprus | ICEJ UK. Uk.icej.org. Retrieved on 2013-07-23.
- Israel-Cyprus exclusive economic zone set
- Japan (main islands) The Sea Around Us Project
- Japan (outer islands) The Sea Around Us Project
- Geographic location
- New Zealand Sea Around Us Project
- Kermadec Islands (New Zealand) The Sea Around Us Project
- New Zealand Ministry for the Environment (2007). Improving Regulation of Environmental Effects in New Zealand’s Exclusive Economic Zone: Discussion Paper - Introduction. Published August 2007, Publication number ME824. ISBN 0-978-478-30160-1 Accessed 2006-01-07.
- Official Gazette 12 July 2012
- Official Gazette EEZ Border (Page 4)
- Statistisk årbok 2007 Accessed January 2008
- UN backs Norway claim to Arctic seabed extension, Canwest News Service, 15 April 2009. Retrieved 13 May 2009.
- Coastal and Marine Ecosystems — Marine Jurisdictions Accessed 1 November 2006
- Exclusive Economic Zones - Sea Around Us Project - Fisheries, Ecosystems & Biodiversity - Data and Visualization.
- Exploration and Extraction of sand and gravel resources in the Polis exclusive economical zone of the Baltic Sea, European marine sand and gravel – shaping the future, EMSAGG Conference 20–21 February 2003, Delft University, The Netherlands
- Task Group for the Extension of the Portuguese Continental Shelf
- Portugal applies to UN to Extend Its Continental Shelf Zone. Accessed 3 July 2011
- Lacleta Muñoz, José Manuel: "Las fronteras de España en el mar". Documentos de trabajo 34-2004, Real Instituto Elcano
- United Nations Convention on the Law of the Sea, Part VIII, Article 121
- Sea Around Us Project - Data and Visualization
- Sea around us project
- "The Exclusive Economic Zone Order 2013" http://www.legislation.gov.uk. Retrieved 20 July 2014.
- 10 Downing Street. "Countries within a country". Retrieved 2010-01-16.
- Exclusive Economic Zones (EEZ). Seaaroundus.org. Retrieved on 2013-07-23.
|Wikimedia Commons has media related to Exclusive Economic Zones.|
- United Nations Convention on the Law of the Sea - Part V
- Sea Around Us Project - View the EEZ of all nations (Note that this site does not distinguish between territorial waters and the EEZ, and so tends to overstate EEZ areas.)
- The USA zone since 1977
- GIS data: VLIZ.be
- Foreign Military Activities in Asian EEZs: Conflict Ahead? by Mark J. Valencia (May 2011)
- EEZ Management