The feasibility of processing waste gas of carbon black manufacture at the Sosnogorsk natural gas processing plant to liquid hydrocarbons by the Fischer-Tropsch method was examined. The comparative activity of iron and cobalt catalysts was studied. It was shown that the yield of liquid hydrocarbons per in 3 of (CO + H-2) present in the effluent gas could reach 100 g at 220degreesC and a synthesis gas space velocity of 3300 h(-1) with the use of high-performance promoted cobalt-aluminosilicate catalysts. No additional carbon dioxide removal from the effluent gas was needed in this case.