Monoethylene glycol (MEG) is a promising chemical and a useful feedstock for the synthesis of several industrial products. The current commercial process of MEG production utilizes petroleum feedstock (ethylene) and an expensive catalyst, and the yield is low. Syngas is an attractive alternate feedstock for MEG. Syngas to MEG proceeds in two steps: the self‐closing, green step of carbonylation of alkyl nitrile to produce dialkyl oxalate, and further hydrogenation of oxalate to MEG. Many reviews which focused on catalyst development, reaction mechanisms, and process variables were published earlier. The present work covers the developments in the syngas‐to‐MEG synthesis process after 2014. It overviews the performance of novel catalyst systems reported in literature. A discussion on reaction pathways and kinetic models is also presented. This work will provide useful insight into syngas‐to‐MEG conversion.