awk '
BEGIN   {
    HDLN = "eventtime|srcip|dstip|srcport|dstport|transip|transport|" \
           "action|sessionid"
    MX = split (HDLN, HD, "|")
    print HDLN
}
{
  DL = ""
  for (i=1; i<=MX; i++)  {
      s=index($0, HD[i] "=")
      if(s) {
          s += length(HD[i]) + 1
          e=index(substr($0,s)," ")-1
          printf DL substr($0, s, e)
      } else printf DL
      DL = "|" 
  }
  printf "\n"
}' infile

#include <stdio.h>
#include <string.h>

int main()
{
   char line_buff[1024];
   int i;
   char *s;
   char dl[2] = "";
   char *match[] = {
     "eventtime=",
     "srcip=",
     "dstip=",
     "srcport=",
     "dstport=",
     "transip=",
     "transport=",
     "action=",
     "sessionid=",
      NULL };


   printf("%.*s", strlen(match[0])-1, match[0]);
   for(i=1;match[i];i++) printf("|%.*s", strlen(match[i])-1, match[i]);
   printf("\n");

   while (!feof(stdin)) {
       if (fgets(line_buff, 1024, stdin)) {
           dl[0]='\0';
           for(i=0;match[i];i++) {
              s=strstr(line_buff, match[i]);
              if(s) {
                printf("%s", dl);
                s+=strlen(match[i]);
                while(*s && *s!=' ') printf("%c", *(s++));
              } else printf("%s", dl);
              strcpy(dl, "|");
            }
           printf("\n");
       }
   }
   return 0;
}