Graciosa, Canary Islands well known beach in the southwestern part of the island. Graciosa, Canary Islands Graciosa Island or commonly La Graciosa (; Spanish for "graceful") is a volcanic island in the Canary Islands of Spain, located north of the island of Lanzarote across the strait named El Río. It was formed by the Canary hotspot. The island is part of the Chinijo Archipelago and the Chinijo Archipelago Natural Park ("Parque Natural del Archipiélago Chinijo"). It is administrated by the municipality of Teguise. The only two settlements are Caleta de Sebo in the southeastern part of the island and summer-residence Casas de Pedro
Canary Islands gas prospects off the Canary Islands, involving an investment of €7.5 billion over four years, to commence at the end of 2016. Repsol at the time said the area could ultimately produce 100,000 barrels of oil a day, which would meet 10 percent of Spain's energy needs. However, the analysis of samples obtained did not show the necessary volume nor quality to consider future extraction, and the project was scrapped. The Canary Islands have great natural attractions, climate and beaches make the islands a major tourist destination, being visited each year by about 12 million people (11,986,059 in 2007, noting