The analysis of the possibility of the low-pressure methanol synthesis in a single fluidized-bed reactor was accomplished. In order to describe the hydrodynamics of the reactor, a three-phase multicompartment model of a bed was used. In such a model the growth of gaseous bubbles is taken into account. An efficient algorithm for solving the model equations was proposed. The analysis of the influence of selected process parameters on autothermicity and multiplicity of steady states as well as on the properties of fluidized bed working under elevated pressure has been carried out.