The agreement was signed in the presence of the presidents of Russia and Kazakhstan, Vladimir Putin and Nursultan Nazarbaev. A delegation headed by the executive director of the State Agency for the Management and Use of Hydrocarbon Resources, Bairammyrat Myradov, represented Turkmenistan. Before signing the document Vladimir Putin and Nursultan Nazarbaev, had a telephone conversation with President of Turkmenistan Gurbanguly Berdymukhamedov.
The parties plan to construct the pipeline along the Caspian coast — 360 km on Turkmenistan's territory and about 150 km through Kazakhstan, in order to link it with the existing Central Asia-Centre pipeline on the Russia-Kazakhstan border. The new gas pipeline will increase the existing capacity to export Turkmenistan's gas to Russia by 20 billion cubic metres. Creating a Trans-Caspian pipeline system and reconstructing the Central Asia-Centre pipeline system will enable the parties to increase annual deliveries of Turkmenistan's gas to 80 billion cubic metres. The presidents of Russia, Kazakhstan and Turkmenistan signed the Joint Declaration on Constructing a Trans-Caspian Gas Pipeline on 12 May 2007 at a meeting in Turkmenbashi.