TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Method: The steps (A) and (B) are carried out simultaneously.(M1) further involves reversing the role of the reactors after a certain time, to produce hydrogen and carbon monoxide in (R2) and regenerate an at least partially deactivated (a1) in (R1).(M1) further involves diverting a slip stream portion (S1) from the hydrogen and carbon monoxide generated in step (A); separating (S1) into a stream comprised primarily of hydrogen and a stream comprised of the remainder; and using the hydrogen stream as one of the regeneration gases in step (B).(M1) further involves additionally regenerating the at least partially deactivated catalyst in a second regeneration gas reaction either before, during or after step (B).(a1) is contacted with the regeneration gas and the deactivated syngas catalyst is contacted with the re-dispersing gas at 25-1500 (preferably at least 1000, especially at least 600)degreesC.(M1) further involves reacting at least a portion of the product gas stream from step (A) in a hydrocarbon synthesis reactor under conditions to produce liquid hydrocarbons.(P1) further involves contacting the deactivated syngas catalyst with a reducing gas (preferably hydrogen).The process is carried out in a single vessel run in cyclic mode.The at least a portion of any unused or produced gas from the regeneration reaction in step (B) is recycled into the syngas stream produced in step (A).Preferred Component: The regeneration gas is obtained from oxygen containing gas, Fischer-Tropsch tail-gas, recycled gas and/or stored gas, produced synthesis gas, hydroprocessing tail gas, and hydrogen-rich stream from an alcohol, olefin, carbon filaments/carbon fibers and/or aromatic synthesis plant.The regeneration gas comprises hydrogen, oxygen, steam, syngas, carbon monoxide, methane, natural gas or light hydrocarbons (preferably methane).(a1) comprises a Group VIII metal (preferably rhodium, noble metal or agglomerated metal clusters.The syngas catalyst comprises agglomerated metal clusters or a Group VIII metal (preferably rhodium).The re-dispersing gas comprises carbon monoxide, hydrogen, oxygen or steam. EXAMPLE - No relevant example given.