Definition - What does Condensate mean?
Condensate is the phase when a gaseous substance is transformed into liquid due to a drop in temperature or pressure. It is also a type of liquid oil, which is ultralight in weight usually found in a gaseous state under the earth's surface; it transforms into a liquid form when extracted to the surface. This natural gas condensate is a blend of hydrocarbon liquids of low-density, which are usually found in a gaseous state. When extracted out of the gas field, the sudden drop of temperature condenses it and turns it into liquid.
Petropedia explains Condensate
In the oil and gas industry, a condensate or natural gasoline is a mixture of butane, propane, pentane and heavy fractions of hydrocarbon. These hydrocarbons are of low-density, which makes the condensate available in a natural gas form in the underneath field. It is usually formed in natural conditions such as an underground reservoir. When this natural gas is pumped out of the reservoir via the field hole, the reduced temperature condenses the hydrocarbons and turns it into a fluid state. In general terms, when a gas transforms into liquid due to a temperature drop, it is referred to as a condensate.