Russian Energy Minister Alexander Novak announced today that negotiations relating to the development of the Turkish Stream Pipeline Project have been suspended, particularly since "an intergovernmental commission on trade and economic cooperation has stopped meeting."

The decision comes on the heels of Turkey's downing of a Russian warplane last week for reportedly breaching its border to Syria and the ensuing strain on the overall Turkish-Russian relationship.

The Turkish Stream project envisions four pipelines carrying Russian natural gas under the Black Sea to western Turkey. From there the gas would be transported further into Europe. This route, as was the case with its now defunct predecessor South Stream, would give Russia another option to bypass the Ukraine as a transit country. Russia's relationship with the Ukraine has been on ice ever since the Russian annexation of Crimea in 2014 and what is perceived in the West to be Russia's ongoing support for separatist forces in the eastern part of the country.

Gazprom CEO Alexey Miller said that in case Ankara needs the Turkish Stream project it should turn to Moscow. "As far as the Turkish Stream is concerned Turkey should first of all turn to Russia if it’s interested in the project. As of now Turkey has not turned to us with this proposal," Miller said, adding that in case such an offer follows it will be considered.