Many industrial plants require electricity and high temperature thermal energy which are typically generated by burning hydrocarbon fuels. This study proposes an energy system that produces electricity and thermal energy by burning hydrocarbons without emitting CO2 through integration of catalytic methane pyrolysis (CMP), carbon capture and in-situ conversion (CCISC), methanol synthesis as well as combined heat and power (CHP) system. The system can eliminate CO2 emissions by industrial plants and residential areas and produce methanol and carbon black as chemical by-products, in addition to producing electricity and thermal energy. Result shows that the maximum net electricity efficiency can reach 52%.