A customer uses an IBM SAS product over the internet. Traffic flows from the IBM hosting data center to the customer network through Juniper VPN appliances. IBM says they're not tunneling private IP addresses. IBM says they're tunneling public IP addresses. Is this possible? What does this look like in the VPN configuration and in the packets? I'd like to know what the source/destination ip/ports would look like in the encrypted tunneled IPSec Payload and in the IP packet carrying the IPSec Payload.

IPSec Payload: source:1.1.1.101:1001 destination:2.2.2.101:2001 IP Packet: source:1.1.1.1:101 destination:2.2.2.1:201

Is it possible to send public IP addresses through an IPSec VPN tunnel? Is it possible for IBM to send a print job from a server on their network using the static-nat public address over a VPN to a printer at a customer network using the printer's static-nat public address? Or can a VPN not do this? Can a VPN only work with interesting traffic from and to private IP addresses?