Asked about his views on the formation of a Third Front, Patnaik said: "We will have to wait and watch and see how these matters progress."
Patnaik was here to meet water resources minister Harish Rawat to discuss the hurdles in the Polavaram project and other water-related issues.
Yadav has floatedThe BJD had moved away from NDA before the Assembly polls in Odisha in 2009.
Rawat dismissed the idea of a Third Front, saying several attempts have been made to form such a coalition in the past but these have had "premature abortions".
He said Mulayam Singh Yadav may be making such statements but he is still supporting the UPA government from outside and will continue to do so to protect secularism and provide stability.
Rawat said Yadav's praise for senior BJP leader LK Advani may have come due to their old ties when both were associated with the VP Singh government in 1989.
He expressed confidence that Yadav will be with UPA after the 2014 polls as well.