TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Method: The gas or liquid phase comprises hydrogen source.    TECHNOLOGY FOCUS - MECHANICAL ENGINEERING - Preferred Component: The high shear device comprises catalytic surface. The system for producing liquid product further comprises a reactor comprising inlet(s) and outlet(s), where inlet of the reactor is fluidly connected to the outlet of the high shear mixing device and the outlet of the reactor is configured for extracting the liquid product. The reactor is a Fischer-Tropsch reactor, a fixed-bed reactor, or a slurry reactor. It comprises multifunctional catalyst. The system for producing synthesis gas from carbonaceous material further comprises vessel coupled to the high shear device, where vessel is configured for receiving high shear-treated stream from the high shear device; a line for introducing a dispersible gas or vapor into the mixture upstream of the high shear device or into the high shear device; and apparatus for the production of liquid hydrocarbons and/or alcohols, and fluidly connected with an outlet of the high shear device. It comprises more than 1 high shear device. The high shear device comprises greater than or equal to 2 generators, each comprising a rotor and a complementarily-shaped stator. The rotor is separated from the stator by a shear gap of 0.02-5 mm, where shear gap is the minimum distance between the rotor and stator.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Method: Subjecting the mixture to high shear to produce high shear-treated stream comprising synthesis gas further comprises contacting the mixture with gas(es) or vapor(s) selected from steam, hydrogen, air, oxygen, or associated gas. The method further comprises contacting the mixture with a catalyst that promotes the formation of synthesis gas; and recycling separated unreacted carbonaceous material and/or separated liquid medium from the third to the first steps. The method further comprises utilizing a portion(s) of the synthesis gas to produce a liquid product comprising forming a dispersion of synthesis gas in a liquid phase, and catalytically reacting the portion(s) of synthesis gas to produce Fischer-Tropsch hydrocarbons. The liquid phase comprises liquid hydrocarbon(s) produced by Fischer-Tropsch and/or alcohol(s). The method further comprises introducing the dispersion into a reactor comprising a fixed bed of catalyst or a fluidized bed of catalyst. The gas is selected from carbon dioxide methane, ethane, propane, butane, pentane, and/or methanol. It comprises synthesis gas, which is generated via natural gas reforming or solids gasification. The solid is coal, biomass, or biorenewables. The multifunctional catalyst promotes Fischer-Tropsch reactions, dehydrogenation reactions, or alcohol forming reactions. It promotes greater than or equal to 2 of dehydrogenation, water dissociation, carbon dioxide dissociation, syngas reforming, and alcohol synthesis. EXAMPLE - No suitable example given.