In the petroleum, natural gas and petrochemical industries, great attention is being paid to safety, reliability and maintainability of equipment. There are a number of technologies to monitor, control, and maintain gas, oil, water, and sewer pipelines. The paper focuses on operational modal analysis (OMA) application for condition monitoring of operating pipelines. Special focus is on the topicality of OMA for definition of the dynamic features of the pipeline (frequencies and mode shapes) in operation. The research was conducted using two operating laboratory models imitated a part of the operating pipeline. The results of finite-element modeling, identification of pipe natural modes and its modification under the influence of virtual failure are discussed. The work considers the results of experimental research of dynamic behavior of the operating pipe models using one of OMA techniques and comparing dynamic properties with the modeled data. The study results demonstrate sensitivity of modal shape parameters to modification of operating pipeline technical state. Two strategies of pipeline repair – with continuously condition-based monitoring with proposed technology and without such monitoring, was discussed. Markov chain reliability models for each strategy were analyzed and reliability improvement factor for proposed technology of monitoring in compare with traditional one was evaluated. It is resumed about ability of operating pipeline condition monitoring by measuring dynamic deformations of the operating pipe and OMA techniques application for dynamic properties extraction.