Engineers have Transporters, which work similar to a Mage's Teleport. They take you specifically to whichever Goblin or Gnome town your Engineering specialization likes best. Wormholes will be the answer to the Mage's Portal. You will be able to take your entire party to that town, not just you. The only one we've seen so far is a Wormhole to Gadgetzan, which may actually prove to be quite useful. While Shattrath has an NPC that will teleport you straight to the Caverns of Time, I haven't seen one of those in Dalaran so far in the Wrath Beta.
Currently it seems the intent is to have Engineers quest for these Wormhole generators, but they aren't available on either the live or beta realms quite yet. That could easily change before we see them ourselves. We may also see these in Patch 3.02 rather than Wrath of the Lich King as well, seeing as Northrend has Goblin towns of its own.
[ via MMO-Champion ]