Even if the pump is not sloped, the water as it is drawn now will flow out, since the outlet at the vessel has no dam that can stop the water from flowing on its own. If the pipe is 24" diameter, there appears to be 12" of water in there, so take a free body diagram of the last 1 in2 column of water in the pipe. On the left of the 1 in2 column at the surface you have 50 psi. On the left of the 1 in2 column down at the bottom of the pipe you have 50 psi + 1 ft high wall of water exerting pressure = 50 + 1 * 62.4 pcf / 144 in2 = 50.43 psi. On the right of the 1 in2 column where the tank opening is, you have a uniform 50 psi tank pressure on the right surface of the 1 in2 column of water. Summing horizontal forces on that 1 mm sq. column of water, there is (50 + 50.43)/2 = 50.215 average psi. On the right side you have an average 50 psi, so it's a net 50.215 psi - 50 psi = 0.215 psi x 12 inches = 2.58 lbs pushing that column of water to the right. It will go into the tank, if the pipe is sloped or not. Now take the next column of water that moved in to take the place of the first. Its almost 12" high, because the fluid level in the pipe dropped a little, so there's slightly less than 2.58 lbs pushing that one into the tank. None the less, that one goes into the tank too. etc. etc. So that's how the water flows out of the pipe, partially full, when the pipe is not sloped.
The water flow will continue on that basis indefinitely, if the pummp is turned on at low speed, so just enough water enters the inlet of the pipe to replace the water moving out of the pipe. If you speed the pump up some more than that, the "bubble" in the pipe will begin to move to the right and eventually the pipe will become full of water as a small jet into the tank begins to form. Before you reach that condition, you may see a condition where water at the entrance to the tank flows quickly, then slows, and quickly again as the bubble oscilates back and forth for awhile, but you should eventually reach a steady state condition with the pipe flow's velocity jetting into the tank.
2 phase flow in petroleum hydraulics is especially seen near the wells, where it is typical to see a combination of a certain amount of gas, some oil and gas condensates (condensed heavier petorleum gases that are liquid under pressure, but gas at atmospheric or slightly higher pressures) all flowing from the well at the same time. In that case, flow in the pipe may be nearly all gas, nearly all oil, nearly all gas and condensates, or some combination of all of them. In that condition how the flow moves in the pipe is mostly conditional on the ratio of gas to liquids that you have in the pipe at any given time. Very high gas content and little liquid will often flow as a misty gas, oil and condensates and water forming the misty droplets being carried, or blown along by the gas stream. More liquid quantities may cause other flow patterns, such as gas flowing rapidly on top of a pipe half full of liquid as you have drawn in your diagram. The liquids moving at a slower velocity than the gas. It is possible to see waves sometimes, other liquid to gas ratios create foam flow, others, especially when the viscosity of the liquid is high, may be liquid flowing along the walls of the pipe, with a center stream of gas flow in the middle of the pipe. If liquid content is high, but gas content low, you may see bubbles flowing along the pipe being carried by the liquid. If there are ups and downs along the pipeline, you may see areas where the liquid is flowing downhill, but bubbles are flowing uphill until enough gas accumulates at the top of the hill to block liquid flow for awhile until all of a sudden the bubble takes off downhill again with liquid following it. That's slug flow. If you have a very viscous product (asphalt) flowing in a cool pipe, you can get almost no flow, or very slow flow in a region near to the walls, but fast flow in the central area of the pipe that stays warm. Search for "flow regimes of 2 phase flow" and you will get hits on a number of diagrams detailing many of these combinations of flow patterns for vertical pipes and those with some variation in pipe slope
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