The Networking API provides abstract L2 network segments that are decoupled from the technology used to implement the L2 network. Networking includes an API extension that provides abstract L3 routers that API users can dynamically provision and configure. These Networking routers can connect multiple L2 Networking networks, and can also provide a gateway that connects one or more private L2 networks to a shared external network. For example, a public network for access to the Internet. See the OpenStack Configuration Reference for details on common models of deploying Networking L3 routers.
The L3 router provides basic NAT capabilities on gateway ports that uplink the router to external networks. This router SNATs all traffic by default, and supports floating IPs, which creates a static one-to-one mapping from a public IP on the external network to a private IP on one of the other subnets attached to the router. This allows a tenant to selectively expose VMs on private networks to other hosts on the external network (and often to all hosts on the Internet). You can allocate and map floating IPs from one port to another, as needed.