MOU Signing Ceremony with DeepStar
Good morning to all who are joining us online in Japan and good evening, to Mr. Toomey, Mr. Shamshy and everyone from DeepStar in Houston. My name is Sasakawa, the Chairman of The Nippon Foundation. Thank you for your attendance at the new MoU signing ceremony today. We are very grateful for your interest and participation. I am also very pleased that we have been able to conclude this new memorandum of understanding on joint technology research and development between DeepStar and The Nippon Foundation today.
As you know, the global movement toward carbon neutrality and decarbonization, such as the use of renewable energy and hydrogen, has been accelerating day by day. State Parties to the 26th session of the United Nations Climate Summit (COP26) held in Glasgow last November, confirmed that the temperature increase from pre-industrial days, as indicated in the Paris Agreement will be reduced from 2 degrees Celsius to 1.5. The 2 degrees Celsius will be a real threat to climate change. The Nippon Foundation has been developing new technologies related to automation and efficiency in offshore oil and gas development, with Deepstar under the joint technology research and development program launched in 2018. I am pleased that we can see the results of our work with products that are ready for commercialization. Looking back on the achievements so far, I believe that we should now be taking advantage of the strength of both Japan and Deepstar to deepen our collaboration in technology development, particularly with new green perspective. In offshore development, I believe it is vital to promote new developments, such as reducing environmental impact while generating marine energy power or by backfilling CO2 to the seabed. I believe that today we are taking our first step to achieve this objective, and I am very honored to be present on this memorable day.
Now I would like also the Japanese companies to take on the existing challenges aggressively with a strong determination to become leaders in the future Japanese and the global offshore development market focusing on the environment by creating new innovations with DeepStar. And I hope that DeepStar will also take advantage of Japanese technological capabilities and boldly work on the new research and development that are both people and environmentally friendly.
I sincerely hope that DeepStar and Japanese companies will play an active role in the future. I look forward to working with all of you and ask for our continued cooperation. Mr. Toomey, Mr. Shamshy and everyone from DeepStar, thank you for your hospitality when I visited Houston for the MoU signing ceremony of the current program in 2018. I shall always remember the ceremonial first pitch at Minute Maid Park, the home stadium of the Astros. If I have another chance, I hope to throw the first pitch again at the same stadium. I’m ready to pitch my best. I am always looking forward to your invitation. Sorry for going off the track. I would like to conclude by expressing my sincere hope that all the Japanese companies will develop unique and innovative technologies for the future. Thank you very much.