diff --git a/novaclient/tests/functional/v2/legacy/test_readonly_nova.py b/novaclient/tests/functional/v2/legacy/test_readonly_nova.py
index 6b783a408..bf1ebe4c0 100644
--- a/novaclient/tests/functional/v2/legacy/test_readonly_nova.py
+++ b/novaclient/tests/functional/v2/legacy/test_readonly_nova.py
@@ -100,7 +100,7 @@ class SimpleReadOnlyNovaClientTest(base.ClientTestBase):
         self.nova('migration-list', flags='--debug')
 
     def test_version_list(self):
-        self.nova('version-list')
+        self.nova('version-list', flags='--debug')
 
     def test_quota_defaults(self):
         self.nova('quota-defaults')
diff --git a/novaclient/tests/unit/v2/test_versions.py b/novaclient/tests/unit/v2/test_versions.py
index 6b20cd0b3..63d63c1a3 100644
--- a/novaclient/tests/unit/v2/test_versions.py
+++ b/novaclient/tests/unit/v2/test_versions.py
@@ -30,7 +30,7 @@ class VersionsTest(utils.TestCase):
     def test_list_services(self):
         vl = self.cs.versions.list()
         self.assert_request_id(vl, fakes.FAKE_REQUEST_ID_LIST)
-        self.cs.assert_called('GET', 'http://nova-api:8774/')
+        self.cs.assert_called('GET', 'http://nova-api:8774')
 
     def test_get_current(self):
         self.cs.callback = []
@@ -75,3 +75,28 @@ class VersionsTest(utils.TestCase):
 
         # check that the full request works as expected
         cs_2.assert_called('GET', expected_endpoint)
+
+    def test_list_versions(self):
+        fapi = mock.Mock()
+        version_mgr = versions.VersionManager(fapi)
+        version_mgr._list = mock.Mock()
+        data = [
+            ("https://example.com:777/v2", "https://example.com:777"),
+            ("https://example.com/v2", "https://example.com"),
+            ("http://example.com/compute/v2", "http://example.com/compute"),
+            ("https://example.com/v2/prrrooojeect-uuid",
+             "https://example.com"),
+            ("https://example.com:777/v2.1", "https://example.com:777"),
+            ("https://example.com/v2.1", "https://example.com"),
+            ("http://example.com/compute/v2.1", "http://example.com/compute"),
+            ("https://example.com/v2.1/prrrooojeect-uuid",
+             "https://example.com"),
+            ("http://example.com/compute", "http://example.com/compute"),
+            ("http://compute.example.com", "http://compute.example.com"),
+        ]
+
+        for endpoint, expected in data:
+            version_mgr._list.reset_mock()
+            fapi.client.get_endpoint.return_value = endpoint
+            version_mgr.list()
+            version_mgr._list.assert_called_once_with(expected, "versions")
diff --git a/novaclient/v2/versions.py b/novaclient/v2/versions.py
index 48cc52cd6..dd157d9f2 100644
--- a/novaclient/v2/versions.py
+++ b/novaclient/v2/versions.py
@@ -78,11 +78,25 @@ class VersionManager(base.ManagerWithFind):
     def list(self):
         """List all versions."""
 
-        # NOTE: "list versions" API needs to be accessed without base
-        # URI (like "v2/{project-id}"), so here should be a scheme("http",
-        # etc.) and a hostname.
         endpoint = self.api.client.get_endpoint()
         url = urllib.parse.urlparse(endpoint)
-        version_url = '%s://%s/' % (url.scheme, url.netloc)
+        # NOTE(andreykurilin): endpoint URL has at least 3 formats:
+        #   1. the classic (legacy) endpoint:
+        #       http://{host}:{optional_port}/v{2 or 2.1}/{project-id}
+        #   2. starting from microversion 2.18 project-id is not included:
+        #       http://{host}:{optional_port}/v{2 or 2.1}
+        #   3. under wsgi:
+        #       http://{host}:{optional_port}/compute/v{2 or 2.1}
+        if (url.path.endswith("v2") or "/v2/" in url.path or
+                url.path.endswith("v2.1") or "/v2.1/" in url.path):
+            # this way should handle all 3 possible formats
+            path = url.path[:url.path.rfind("/v2")]
+            version_url = '%s://%s%s' % (url.scheme, url.netloc, path)
+        else:
+            # NOTE(andreykurilin): probably, it is one of the next cases:
+            #  * https://compute.example.com/
+            #  * https://example.com/compute
+            # leave as is without cropping.
+            version_url = endpoint
 
         return self._list(version_url, "versions")