Porsche is leaving the top category of Le Mans 24 Hours and world endurance racing at the end of the season to join German automotive rivals in the Formula E electric championship in 2019.
The Volkswagen-owned carmaker was last in Formula One as an engine provider in 1991.
Company representatives have attended meetings about the 2021 regulations, which are expected to lead to cheaper and simpler power units than the sport's current V6 1.6 litre turbo hybrid.
"F1 could be one of the right places," Meschke told the motorsport.com website after meeting Formula One management at the Italian Grand Prix at the weekend.
"As you know Formula E is very important for us now, and F1 is always a good topic to think about. And I think we are in quite good discussions regarding the new engine."
He said there were no plans to enter a Porsche team and discussions were only "around being a supplier".
Formula One currently has four engine makers with Mercedes, Ferrari and Renault supplying three teams each while Honda partner McLaren in a relationship that may not last beyond the year.
(Reporting by Alan Baldwin, editing by Clare Fallon)
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