diff --git a/pkg/cloudprovider/providers/openstack/openstack_loadbalancer.go b/pkg/cloudprovider/providers/openstack/openstack_loadbalancer.go
index 722063bfe16..ca085890009 100644
--- a/pkg/cloudprovider/providers/openstack/openstack_loadbalancer.go
+++ b/pkg/cloudprovider/providers/openstack/openstack_loadbalancer.go
@@ -66,6 +66,8 @@ const (
 
 	activeStatus = "ACTIVE"
 	errorStatus  = "ERROR"
+
+	ServiceAnnotationLoadBalancerFloatingNetworkId = "loadbalancer.openstack.org/floating-network-id"
 )
 
 // LoadBalancer implementation for LBaaS v1
@@ -581,6 +583,21 @@ func nodeAddressForLB(node *v1.Node) (string, error) {
 	return addrs[0].Address, nil
 }
 
+//getStringFromServiceAnnotation searches a given v1.Service for a specific annotationKey and either returns the annotation's value or a specified defaultSetting
+func getStringFromServiceAnnotation(service *v1.Service, annotationKey string, defaultSetting string) string {
+	glog.V(4).Infof("getStringFromServiceAnnotation(%v, %v, %v)", service, annotationKey, defaultSetting)
+	if annotationValue, ok := service.Annotations[annotationKey]; ok {
+		//if there is an annotation for this setting, set the "setting" var to it
+		// annotationValue can be empty, it is working as designed
+		// it makes possible for instance provisioning loadbalancer without floatingip
+		glog.V(4).Infof("Found a Service Annotation: %v = %v", annotationKey, annotationValue)
+		return annotationValue
+	}
+	//if there is no annotation, set "settings" var to the value from cloud config
+	glog.V(4).Infof("Could not find a Service Annotation; falling back on cloud-config setting: %v = %v", annotationKey, defaultSetting)
+	return defaultSetting
+}
+
 // TODO: This code currently ignores 'region' and always creates a
 // loadbalancer in only the current OpenStack region.  We should take
 // a list of regions (from config) and query/create loadbalancers in
@@ -598,6 +615,9 @@ func (lbaas *LbaasV2) EnsureLoadBalancer(clusterName string, apiService *v1.Serv
 		return nil, fmt.Errorf("no ports provided to openstack load balancer")
 	}
 
+	floatingPool := getStringFromServiceAnnotation(apiService, ServiceAnnotationLoadBalancerFloatingNetworkId, lbaas.opts.FloatingNetworkId)
+	glog.V(4).Infof("EnsureLoadBalancer using floatingPool: %v", floatingPool)
+
 	// Check for TCP protocol on each port
 	// TODO: Convert all error messages to use an event recorder
 	for _, port := range ports {
@@ -827,10 +847,10 @@ func (lbaas *LbaasV2) EnsureLoadBalancer(clusterName string, apiService *v1.Serv
 	if err != nil && err != ErrNotFound {
 		return nil, fmt.Errorf("Error getting floating ip for port %s: %v", portID, err)
 	}
-	if floatIP == nil && lbaas.opts.FloatingNetworkId != "" {
+	if floatIP == nil && floatingPool != "" {
 		glog.V(4).Infof("Creating floating ip for loadbalancer %s port %s", loadbalancer.ID, portID)
 		floatIPOpts := floatingips.CreateOpts{
-			FloatingNetworkID: lbaas.opts.FloatingNetworkId,
+			FloatingNetworkID: floatingPool,
 			PortID:            portID,
 		}
 		floatIP, err = floatingips.Create(lbaas.network, floatIPOpts).Extract()