A valve system for collection and removal of condensation from a gas-pressurized fluid system. In one embodiment a single valve is used, having inlet, outlet and condensate collection ports and a valve body capable of movement between a position which connects the inlet port to the condensate collection port and a position which connects the condensate collection port to the outlet port. The valve is formed such that the inlet port is not connected to the outlet port while the valve is moved between the two positions, so that the pressurized system is not depressurized. A second embodiment uses two coupled valves replacing the single valve.