A method for generation of power and Fischer-Tropsch synthesis products by producing synthesis gas comprising hydrogen and carbon monoxide, producing Fischer-Tropsch synthesis products and Fischer-Tropsch tailgas from a first portion of the synthesis gas, and generating power from a second portion of the synthesis gas, from at least a portion of the Fischer-Tropsch tailgas, or from both. The method may also comprise conditioning at least a portion of the synthesis gas and/or upgrading at least a portion of the Fischer-Tropsch synthesis products. A system for carrying out the method is also provided.