Monoethylene glycol (MEG) is a widely used hydrate inhibitor in wet gas pipelines that also can decrease the corrosion rate. Therefore it is important to determine the amount of MEG present at the top of the line. This work present a mechanistic water/MEG co-condensation model in the presence of a noncondensing gas (CO2) that could be used to predict the condensation rate and MEG concentration in the condensing phase. The model predictions were compared with loop test results showing good agreement. The results showed that the increase of the MEG content at the bottom of the line decreased the total condensation rate and increased the MEG content of condensing phase at the top of the line. However this effect is visible only when the MEG content is higher than 70-80 wt.% at the bottom. Long term corrosion experiment are also presented showing that the injection of 50 wt.% and 70 wt.% MEG at the bottom have a minimum effect on both general and localized corrosion resistance. On the other hand 90 wt.% MEG decreased the top of the line corrosion rate significantly due to a decrease in condensation rate and increase of MEG in the condensing phase.