Reported in the article is further progress in the development of the novel pulsed detonation gun (PDG) technology for the conversion of organic wastes into syngas in a two-component gasifying agent (GA) containing ultra-superheated steam and carbon dioxide obtained by pulsed detonations of a natural gas–oxygen mixture at a frequency of 1 Hz. Experimental studies were carried out on a waste converter with a 40 dm3 flow reactor and two PDGs with a total volume of 2.4 or 3.2 dm3, which is approximately a factor of 6 and 4.5 less than in previous studies, respectively. The objective of the research was to find the design and operation parameters of the waste converter that provide a minimum amount of CO2 in the gasification products. Waste machine oil was used as a feedstock. It is shown that, compared with the earlier experiments with a higher average temperature of the reactor wall and with a PDG of a much larger volume, the contents of H2, CO, CH4, and CO2 in the syngas remained virtually unchanged, whereas the efficiency of the gasification process increased significantly: the use of 1 g of natural gas made it possible to gasify up to 4 g of the feedstock. It is also shown that the determining role in the gasification process of liquid feedstock is played by the feedstock residence time in the PDG rather than in the reactor. The minimum ratio between the flow rates of the GA and liquid feedstock, the minimum ratio between the flow rates of combustible gas and liquid feedstock, as well as the actual GA consumption in the gasification process are determined experimentally.