Timelike Compton Scattering - New Theoretical Results and Experimental Possibilities

We review recent progress in the study of timelike Compton scattering (TCS), the crossed process of deeply virtual Compton scattering. We emphasize the need to include NLO corrections to any phenomenological program to extract Generalized Parton Distributions (GPDs) from near future experimental data. We point out that TCS at high energy should be available through a study of ultraperipheral collisions at RHIC and LHC, opening a window on quark and gluon GPDs at very small skewness