What is Turkish Stream?

The Turkish Stream is a working name of the proposed natural gas pipeline from Russia to Turkey across the Black Sea. The proposed pipeline should replace the cancelled South Stream project.

Instead of stretching a pipeline across Europe and dealing with EU legislation that requires infrastructure be open to third parties, Gazprom said it will transport the gas to a hub in Turkey, from which the EU can take it or leave it.  (The Moscow Times)

Which are other countries involved?

A part from Russia and Turkey, also Hungary, Serbia, Macedonia, and Greece are also interested in participating to the projects. The objective of these countries is to diversify routes and channels of natural gas sources. (Sputnik News)

Why this is important for Russia?

If the countries decide to take part in the Turkish Stream project, Gazprom will have an opportunity to deliver gas to Europe bypassing Ukraine without drastically altering existing deals with the customers (Sputnik News)