diff --git a/README.md b/README.md
index 65e6c7e57..4bfea1fb4 100644
--- a/README.md
+++ b/README.md
@@ -9,11 +9,11 @@ These types of resources are supported:
 * [Subnet](https://www.terraform.io/docs/providers/aws/r/subnet.html)
 * [Route](https://www.terraform.io/docs/providers/aws/r/route.html)
 * [Route table](https://www.terraform.io/docs/providers/aws/r/route_table.html)
-* [Internet Gateway](https://www.terraform.io/docs/providers/aws/r/internet_gateway.html) 
+* [Internet Gateway](https://www.terraform.io/docs/providers/aws/r/internet_gateway.html)
 * [NAT Gateway](https://www.terraform.io/docs/providers/aws/r/nat_gateway.html)
 * [VPN Gateway](https://www.terraform.io/docs/providers/aws/r/vpn_gateway.html)
 * [VPC Endpoint](https://www.terraform.io/docs/providers/aws/r/vpc_endpoint.html) (S3 and DynamoDB)
-* [RDS DB Subnet Group](https://www.terraform.io/docs/providers/aws/r/db_subnet_group.html) 
+* [RDS DB Subnet Group](https://www.terraform.io/docs/providers/aws/r/db_subnet_group.html)
 * [ElastiCache Subnet Group](https://www.terraform.io/docs/providers/aws/r/elasticache_subnet_group.html)
 * [DHCP Options Set](https://www.terraform.io/docs/providers/aws/r/vpc_dhcp_options.html)
 
@@ -31,7 +31,7 @@ module "vpc" {
 
   name = "my-vpc"
   cidr = "10.0.0.0/16"
-  
+
   azs             = ["eu-west-1a", "eu-west-1b", "eu-west-1c"]
   private_subnets = ["10.0.1.0/24", "10.0.2.0/24", "10.0.3.0/24"]
   public_subnets  = ["10.0.101.0/24", "10.0.102.0/24", "10.0.103.0/24"]
@@ -46,10 +46,45 @@ module "vpc" {
 }
 ```
 
+External NAT Gateway IPs
+------------------------
+
+By default this module will provision new Elastic IPs for the VPC's NAT Gateways.
+This means that when creating a new VPC, new IPs are allocated, and when that VPC is destroyed those IPs are released.
+Sometimes it is handy to keep the same IPs even after the VPC is destroyed and re-created.
+To that end, it is possible to assign existing IPs to the NAT Gateways.
+This prevents the destruction of the VPC from releasing those IPs, while making it possible that a re-created VPC uses the same IPs.
+
+To achieve this, allocate the IPs outside the VPC module declaration.
+```hcl
+resource "aws_eip" "nat" {
+  count = 3
+
+  vpc = true
+}
+```
+
+Then, pass the allocated IPs as a parameter to this module.
+```hcl
+module "vpc" {
+  source = "terraform-aws-modules/vpc/aws"
+
+  # The rest of arguments are omitted for brevity
+
+  enable_nat_gateway  = true
+  single_nat_gateway  = false
+  external_nat_ip_ids = ["${resource.aws_eip.nat.*.id}"]   # <= IPs specified here as input to the module
+}
+```
+
+Note that in the example we allocate 3 IPs because we will be provisioning 3 NAT Gateways (due to `single_nat_gateway = false` and having 3 subnets).
+If, on the other hand, `single_nat_gateway = true`, then `aws_eip.nat` would only need to allocate 1 IP.
+Passing the IPs into the module is done by setting variable `external_nat_ip_ids = ["${resource.aws_eip.nat.*.id}"]`.
+
 Terraform version
 -----------------
 
-Terraform version 1.0.0 or newer is required for this version to work.
+Terraform version 0.10.13 or newer is required for this module to work.
 
 Examples
 --------
@@ -66,4 +101,4 @@ Module managed by [Anton Babenko](https://github.com/antonbabenko).
 License
 -------
 
-Apache 2 Licensed. See LICENSE for full details.
\ No newline at end of file
+Apache 2 Licensed. See LICENSE for full details.
diff --git a/main.tf b/main.tf
index 6a8a9c942..fa3ac9f3a 100644
--- a/main.tf
+++ b/main.tf
@@ -1,3 +1,7 @@
+terraform {
+  required_version = ">= 0.10.13" # introduction of Local Values configuration language feature
+}
+
 ######
 # VPC
 ######
@@ -152,8 +156,20 @@ resource "aws_elasticache_subnet_group" "elasticache" {
 ##############
 # NAT Gateway
 ##############
+# Workaround for interpolation not being able to "short-circuit" the evaluation of the conditional branch that doesn't end up being used
+# Source: https://github.com/hashicorp/terraform/issues/11566#issuecomment-289417805
+#
+# The logical expression would be
+#
+#    nat_gateway_ips = var.reuse_nat_ips ? var.external_nat_ip_ids : aws_eip.nat.*.id
+#
+# but then when count of aws_eip.nat.*.id is zero, this would throw a resource not found error on aws_eip.nat.*.id.
+locals {
+  nat_gateway_ips = "${split(",", (var.reuse_nat_ips ? join(",", var.external_nat_ip_ids) : join(",", aws_eip.nat.*.id)))}"
+}
+
 resource "aws_eip" "nat" {
-  count = "${var.enable_nat_gateway ? (var.single_nat_gateway ? 1 : length(var.azs)) : 0}"
+  count = "${(var.enable_nat_gateway && !var.reuse_nat_ips) ? (var.single_nat_gateway ? 1 : length(var.azs)) : 0}"
 
   vpc = true
 }
@@ -161,7 +177,7 @@ resource "aws_eip" "nat" {
 resource "aws_nat_gateway" "this" {
   count = "${var.enable_nat_gateway ? (var.single_nat_gateway ? 1 : length(var.azs)) : 0}"
 
-  allocation_id = "${element(aws_eip.nat.*.id, (var.single_nat_gateway ? 0 : count.index))}"
+  allocation_id = "${element(local.nat_gateway_ips, (var.single_nat_gateway ? 0 : count.index))}"
   subnet_id     = "${element(aws_subnet.public.*.id, (var.single_nat_gateway ? 0 : count.index))}"
 
   tags = "${merge(var.tags, map("Name", format("%s-%s", var.name, element(var.azs, (var.single_nat_gateway ? 0 : count.index)))))}"
diff --git a/variables.tf b/variables.tf
index b3ca52a68..7148bb839 100644
--- a/variables.tf
+++ b/variables.tf
@@ -65,6 +65,17 @@ variable "single_nat_gateway" {
   default     = false
 }
 
+variable "reuse_nat_ips" {
+  description = "Should be true if you don't want EIPs to be created for your NAT Gateways and will instead pass them in via the 'external_nat_ip_ids' variable"
+  default     = false
+}
+
+variable "external_nat_ip_ids" {
+  description = "List of EIP IDs to be assigned to the NAT Gateways (used in combination with reuse_nat_ips)"
+  type        = "list"
+  default     = []
+}
+
 variable "enable_dynamodb_endpoint" {
   description = "Should be true if you want to provision a DynamoDB endpoint to the VPC"
   default     = false