Processes that generate syngas or reformed gas that have the desired H2/CO ratio, such that they can be used directly for producing higher value liquids, such as using a FT GTL process. The systems and methods of the present invention are simpler and more cost effective than conventional systems and methods. The systems and methods of the present invention generate the required CO2 in a reforming furnace by combusting natural gas with a mixture of O2 from an external source and CO2 that is recirculated from a reforming furnace. A second application of the natural gas combustion with external O2 mixed with recirculated CO2 in the reformer burners can be utilized in a DR process. The reformed gas or syngas containing H2 and CO is used to reduce iron oxide to metallic iron in a shaft furnace, for example.