The experimental research aims at the analysis of the thermal performance of a gas-liquid heat exchanger in a pilot plant. Results of the conducted experiment with a finned tubes thermosyphon heat exchanger using natural gas are presented. The installation was mounted at the exit of a flue gas from an existing steam generator ?PK-4? with total power of 2.88 MW in the boiler room of Vini, Sliven, Bulgaria. Different experiments were carried out at different loads of the steam generator in order to determine the efficiency of the heat exchanger. Based on these results the coefficient of heat transfer of flue gas to the finned tubes was determined, based on different modes of operation with crossed and straight pipe bundles. The effectiveness-number of transfer units method was used.