TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Components: The catalyst comprises magnesium in the form of magnesium oxide (1-5 wt.%). The weight ratio of copper and zinc expressed as oxide in the catalyst is 2-3.5:1. The source of alumina or hydrated alumina in the catalyst is a colloidally-dispersed aluminum oxide or aluminum hydroxide. The catalyst shaped units have a reduced to as-made mean horizontal crush strength ratio of greater than or equal to 0.5:1 and a copper surface area of higher than 60 m2/g copper. The shaped unit is a pellet formed by compression of the reduced and passivated powder. The pellet has a density of 1.4-2.5 g/cm3. The catalyst is prepared by forming, in an aqueous medium, a composition comprising an intimate mixture of discrete particles of compounds of copper, zinc, aluminum, and magnesium, chromium, manganese, vanadium, titanium, zirconium, tantalum, molybdenum, tungsten, silicon or rare earths; recovering and drying the composition to form a catalyst precursor; subjecting the dried catalyst precursor composition to reduction conditions so that the copper compounds are converted to copper; passivating the reduced copper surfaces; drying at 180-240 degrees C; and shaping the reduced and passivated composition. The stoichiometry number (R) which is computed as (H2-CO2)/(CO+CO2) of the synthesis gas in the loop fed to the catalyst is greater than or equal to 3 (preferably greater than or equal to 5).    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Components: The total oxygenate by-product level is the sum of the ppm weight of ethanol, 2-propanol, 1-propanol, methyl ethyl ketone, 2-butanol, 2-methyl propan-1-ol and 1-butanol in the recovered condensate. The total oxygenate by-product level is below 400 (preferably below 300) ppm. The ethanol content of the condensate is less than or equal to 300 (preferably less than or equal to 250) ppm. The relative condensate purity is less than or equal to 75 (preferably less than or equal to 50)%.(preferably ) Preferred Process: The methanol synthesis process is operated at 200-320 degrees C. EXAMPLE - No suitable example given.