diff --git a/ci/roles/router/tasks/main.yml b/ci/roles/router/tasks/main.yml
index fb4cc168..10f605b5 100644
--- a/ci/roles/router/tasks/main.yml
+++ b/ci/roles/router/tasks/main.yml
@@ -720,3 +720,5 @@
      name: "{{ external_network_name }}"
 
 - include_tasks: shared_network.yml
+
+- include_tasks: shared_ext_network.yml
diff --git a/ci/roles/router/tasks/shared_ext_network.yml b/ci/roles/router/tasks/shared_ext_network.yml
new file mode 100644
index 00000000..2e9d2d7d
--- /dev/null
+++ b/ci/roles/router/tasks/shared_ext_network.yml
@@ -0,0 +1,99 @@
+---
+# Test the case where we have a shared external network in one project used as
+# the gateway on a router in a second project.
+# See https://bugs.launchpad.net/ansible-collections-openstack/+bug/2049658
+
+- name: Create the first project
+  openstack.cloud.project:
+    cloud: "{{ cloud }}"
+    state: present
+    name: "shared_ext_net_test_1"
+    description: "Project that contains the external network to be shared"
+    domain: default
+    is_enabled: True
+  register: project_1
+
+- name: Create the external network to be shared
+  openstack.cloud.network:
+    cloud: "{{ cloud }}"
+    state: present
+    name: "{{ external_network_name }}"
+    project: "shared_ext_net_test_1"
+    external: true
+    shared: true
+  register: shared_ext_network
+
+- name: Create subnet on external network
+  openstack.cloud.subnet:
+    cloud: "{{ cloud }}"
+    state: present
+    network_name: "{{ shared_ext_network.id }}"
+    name: "shared_ext_subnet"
+    project: "shared_ext_net_test_1"
+    cidr: "10.6.6.0/24"
+  register: shared_subnet
+
+- name: Create the second project
+  openstack.cloud.project:
+    cloud: "{{ cloud }}"
+    state: present
+    name: "shared_ext_net_test_2"
+    description: "Project that contains the subnet to be shared"
+    domain: default
+    is_enabled: True
+  register: project_2
+
+- name: Create router with gateway on shared external network
+  openstack.cloud.router:
+    cloud: "{{ cloud }}"
+    state: present
+    name: "shared_ext_net_test2_router"
+    project: "shared_ext_net_test_2"
+    network: "{{ external_network_name }}"
+  register: router
+
+- name: Gather routers info
+  openstack.cloud.routers_info:
+     cloud: "{{ cloud }}"
+     name: "shared_ext_net_test2_router"
+  register: routers
+
+- name: Verify routers info
+  assert:
+    that:
+      - routers.routers.0.id == router.router.id
+      - routers.routers.0.external_gateway_info.external_fixed_ips|length == 1
+
+- name: Delete router
+  openstack.cloud.router:
+    cloud: "{{ cloud }}"
+    state: absent
+    name: "shared_ext_net_test2_router"
+    project: "shared_ext_net_test_2"
+
+- name: Delete subnet
+  openstack.cloud.subnet:
+    cloud: "{{ cloud }}"
+    state: absent
+    network_name: "{{ shared_ext_network.id }}"
+    name: "shared_ext_subnet"
+    project: "shared_ext_net_test_1"
+
+- name: Delete network
+  openstack.cloud.network:
+    cloud: "{{ cloud }}"
+    state: absent
+    name: "{{ external_network_name }}"
+    project: "shared_ext_net_test_1"
+
+- name: Delete project 2
+  openstack.cloud.project:
+    cloud: "{{ cloud }}"
+    state: absent
+    name: "shared_ext_net_test_2"
+
+- name: Delete project 1
+  openstack.cloud.project:
+    cloud: "{{ cloud }}"
+    state: absent
+    name: "shared_ext_net_test_1"
diff --git a/plugins/modules/router.py b/plugins/modules/router.py
index 7002a411..a90a1472 100644
--- a/plugins/modules/router.py
+++ b/plugins/modules/router.py
@@ -616,9 +616,13 @@ class RouterModule(OpenStackModule):
         router = self.conn.network.find_router(name, **query_filters)
         network = None
         if network_name_or_id:
+            # First try to find a network in the specified project.
             network = self.conn.network.find_network(network_name_or_id,
-                                                     ignore_missing=False,
                                                      **query_filters)
+            if not network:
+                # Fall back to a global search for the network.
+                network = self.conn.network.find_network(network_name_or_id,
+                                                         ignore_missing=False)
 
         # Validate and cache the subnet IDs so we can avoid duplicate checks
         # and expensive API calls.