The availability requirement of natural gas compressors is high. Thus, current maintenance architecture, combined periodical maintenance and simple condition based maintenance, should be improved. In this paper, a new maintenance method, dynamic reliability-centered maintenance (DRCM), is proposed for equipment management. It aims at expanding the application of reliability-centered maintenance (RCM) in maintenance schedule making to preventive maintenance decision-making online and seems suitable for maintenance of natural gas compressor stations. A decision diagram and a maintenance model are developed for DRCM. Then, three application cases of DRCM for actual natural gas compressor stations are shown to validate this new method.