"OpenL2TP can be used with or without IPSec. To use IPSec, make sure
that racoon is installed (from
http://ipsec-tools.sourceforge.net) and
start openl2tpd with -p ipsec.so to use the IPSec plugin. This plugin
tracks L2TP tunnel setups and installs rules in the IPSec Security Pol-
icy Database (SPD). Since this plugin tracks ephemeral port usage,
OpenL2TP supports multiple L2TP/IPSec connections between the same IP
peers. This allows configurations where there are multiple L2TP/IPSec
clients behind a NAT gateway, connecting to a remote L2TP server."
http://www.openl2tp.org/doc/openl2tp
I assume many l2tp implementations can but they now assume you want ipsec also.