a method and system for producing methanol that employs both an oxygen transport membrane based reforming system together with a more traditional steam methane reforming and / or autothermal synthesis gas production system is disclosed . the dual mode system and method for producing the synthesis gas in a methanol production process optimizes the efficiency and productivity of the methanol plant by using the otm based reforming system as an independent source of synthesis gas . the disclosed methods and systems are configurable either as a retrofit to existing methanol production facilities or as an integrated package into newly constructed methanol production facilities .