NOVELTY - Synthesizing hydrocarbonaceous compounds comprises: introducing a fuel stream (105) comprising a reformable fuel into an anode of a molten carbonate fuel cell (120) and/or an internal reforming element; introducing a cathode inlet stream comprising carbon dioxide and oxygen into a cathode of cell; generating electricity within cell; generating an anode exhaust (125) comprising hydrogen (H2), carbon monoxide (CO) and carbon dioxide (CO2); removing water and CO2 from the anode exhaust to produce an effluent gas stream; and reacting stream over a non-shifting Fischer-Tropsch catalyst.    USE - The method is useful for synthesizing hydrocarbonaceous compounds (claimed) such as alcohols, preferably methanol.    ADVANTAGE - The method is capable of efficiently synthesizing the hydrocarbonaceous compounds with high quality.    DETAILED DESCRIPTION - Synthesizing hydrocarbonaceous compounds comprises: introducing a fuel stream comprising a reformable fuel into an anode of a molten carbonate fuel cell and/or an internal reforming element associated with the anode; introducing a cathode inlet stream comprising carbon dioxide and oxygen into a cathode of the molten carbonate fuel cell; generating electricity within the molten carbonate fuel cell; generating an anode exhaust comprising hydrogen (H2), carbon monoxide (CO) and 20 vol.% of carbon dioxide (CO2), where a ratio of H2 and CO is 2.5:1; removing water and CO2 from a portion of the anode exhaust to produce an anode effluent gas stream having a concentration of water that is less than half of a concentration of water in the anode exhaust and/or a concentration of CO2 that is less than half of a concentration of CO2 in the anode exhaust, where a ratio of H2 and CO is less than or equal to 2.3:1; and reacting a portion of the anode effluent gas stream over a non-shifting Fischer-Tropsch catalyst to produce a gaseous product and a non-gaseous product.    DESCRIPTION OF DRAWING(S) - The figure shows a schematic view of a molten carbonate fuel cell.    Fuel stream (105)    Fuel cell (120)    Anode exhaust (125)    Second water-gas shift reactor (131)    Carbon dioxide output stream. (143)