This work is dedicated to the modeling of gas-liquid flows in pipes. As a first step, a new two-layer model is proposed to deal with the stratified regime. The starting point is the isentropic Euler set of equations for each phase where the classical hydrostatic assumption is made for the liquid. The main difference with the models issued from the classical literature is that the liquid as well as the gas are assumed compressible. In that framework, an averaging process results in a five-equation system where the hydrostatic constraint has been used to define the interfacial pressure. Closure laws for the interfacial velocity and source terms such as mass and momentum transfer are provided following an entropy inequality. The resulting model is hyperbolic with non conservative terms. Therefore, regarding the homogeneous part of the system, the definition and uniqueness of jump conditions is studied carefully and acquired. The nature of characteristic fields and the corresponding Riemann invariants are also detailed. Thus, one may build analytical solutions for the Riemann problem. In addition, positivity is obtained for heights and densities. The overall derivation deals with gas-liquid flows through rectangular channels, circular pipes with variable cross-section and includes vapor-liquid flows.