The invention concerns a method of producing liquid hydrocarbons from natural gas, characterized in that:a) the natural gas is separated in (2) into at least two fractions, a first fraction of gas enriched with methane and a second fraction enriched with C2+ alkanesb) the methane is selectively oxidised in (7a) by molecular oxygen in the presence of a catalyst for oxidizing linkage of methanec) the fraction enriched with C2+ alkanes is at least partly mixed with the effluent from selective oxidation, when at least 80% of the molecular oxygen introduced at stage (b) has already been consumed at stage (b)d) the mixture resulting from stage (c) is pyrolysed in (7b)e) when the temperature of the mixture from stage (d) has been brought to a temperature from 300.degree. to 750.degree. C. and more particularly from 420.degree. to 550.degree. C., at least part of the olefins is converted to aromatics in (11c), in the presence of a special catalyst containing a zeolite, gallium, one or more Group VIII metals and/or rhenium, one or more additional metals selected from tin, lead, indium, germanium and thallium, possibly an alkali metal or alkaline earth metal and possibly a matrix.