Reactions of methane with water and CO2 in thermal plasma generated in a special plasma torch with a water-stabilized arc were investigated. Steam plasma with very high enthalpy and low mass flow rate was produced in a dc arc discharge which was in direct contact with water vortex surrounding the arc column. Composition of produced gas, energy balance of the process and its efficiency were determined from measured data. The output H-2/CO ratio could be adjusted by a choice of feed rates of input reactants in the range 1.1-3.4. Depending on experimental conditions the conversion of methane was up to 99.5%, the selectivity of H-2 was up to 99.9%, and minimum energy needed for production of 1 mol of hydrogen was 158 kJ/mol. Effect of conditions on process characteristics was studied. Comparison of measured data with results of theoretical computations confirmed that the reforming process produces gas with composition which is close to the one obtained from the thermodynamic equilibrium calculations. Relations between process enthalpy, composition of produced syngas and process characteristics were determined both theoretically and experimentally.