RESUMEN Colombia posee un gran potencial de reservas de gas natural principalmente en la Costa Atlantica, las cuales requieren una alternativa para su desarrollo. Por esta razon se decidio realizar este estudio para analizar la viabilidad de un proyecto de conversion de gas natural a combustibles liquidos - to Liquid (GTL), por medio del proceso Fischer-Tropsch; que no solo permitira monetizar estas reservas, sino que tambien le permitira al pais entrar a la era de combustibles ultra-limpios, debido a las caracteristicas de los productos que se obtienen (bajo contenido de azufre y aromaticos). Para este fin se analizaron cuatro ejes tematicos: Unas generalidades de la tecnologia GTL; un estudio de mercado de los productos obtenidos (diesel, nafta y productos especializados) y su mercado; un estudio tecnico para determinar el tamano y la localizacion de la planta, y el proceso mas adecuado para desarrollarse segun las condiciones de Colombia; por ultimo un estudio economico donde se define la viabilidad del proyecto mediante parametros financieros como, tasa interna de retorno, valor presente neto y tiempo de pago de la inversion, para un caso base y diferentes escenarios de precios del gas y del crudo. ABSTRACT Colombia has a great potential of natural gas reserves mainly in the Atlantic Coast, which require an alternative for their development. Therefore it was decided to make this study to analyze the viability of a project of natural gas conversion to liquid fuels «Gas to liquid» (GTL), by means of the Fischer-Tropsch process; that not only it will allow to value these reserves, but also that will allow to the country to enter in the era of extreme-clean fuels, due to the characteristics of the products that are obtained (Low aromatic and sulfur content). For this objective four thematic axes were analyzed: generalities of technology GTL; a study of market of obtained products (diesel, gasoline and specialized products) and its market; a technical study to determine the size and the location of the plant, and the process adapted to be developed according to the conditions of Colombia; and finally an economic study where the viability of the project by means of financial! parameters is defined, (internal rate of return, value present net and time of payment of the investment) for a different case and scenarios of crude and gas prices. Keywords: Prefactibility, Gas to liquid, natural gas, Fischer-Tropsch, synthetic gas, refining, gas reserves, marketing, plant, conversion, synthetic combustibles.