Classic duplicate bid game or part score or sacrifice.

West and North will pass.

East 1NT with balanced 12-14, but some may upgrade to 1♦ with the intention of bidding 1N, but in position 3 less interesting than in position 1 and 2. 1N in position 3 where the chances of game are low, 1N is preemptive.

Over 1N South will either bid 2♣  if they have this as a Landy type bid to show both majors normally 4+/5+. It is risky with weak hands to do this and  2♥ would be safer. But here with only 5 losers it is could be worth taking the risk.

Over 2♥ West will pass

North has good support and shape, so may invite with 3♥ which South will raise to 4♥ that makes.

Over an East 1♦ opening South will bid 1♥ 

West will bid 2♦

North should bid to the level of fit and bid 3♥ .

East may bid 4♦ - his HCPs are working

South may bid 4♥ , if he does West will have to consider the sacrifice Vulnerable of 5♦ which may encourage N/S to bid 5♥ which should go off

So depending on the bidding could result in 2 ♥ 3♥ 4♦ 4♥ or 5♦ or even 5♥ 

The optimum is 5♦ with the likely double.