The $5.8 billion Nabucco pipeline will carry natural gas from Turkey to Eastern Europe at an estimated rate of 1.1 trillion cubic feet of natural gas per year.

Turkish Energy Minister Hilmi Guler discussed with Austrian officials a possible time frame for construction as well as security issues for the project, the Turkish daily Hurriyet said.

"We will speed up our efforts and realize this project," Guler said. "So, both Turkey and the European Union can have a good alternative for natural gas supply security."

For his part, Austrian Economic Affairs Minister Martin Bartenstein said his country viewed the project as a significant venture, adding, "It is time to finish the project."