This paper focuses on the determination of the optimal operating scenario of an Externally-Fired MicroGas turbine utilizing syngas produced by biomass gasification. Biomass exploitation can contribute to the achievement of the net-zero emissions target in 2050. This can be boosted by the advancement of externallyfired technology. In this study, a dual-objective optimization process, including a validated thermodynamic model, is combined with preliminary cost insights to assist the decision-making process. The resulting performance is compared with the actual data-based performance of a reference natural-gas-fired MicroGas Turbine. The performance comparison is performed through an exergetic analysis, identifying the main losses contributors. The optimization results in an externally-fired performance of 77.9 kW el electrical power and 20.3% efficiency, improved by 31.5% compared to the average current externally-fired demonstrated efficiencies. Yet, there is still room for improvement to reach natural-gas-fired Micro-Gas Turbine efficiency. The study highlights an unavoidable efficiency decrease of at least 4.0 percentage points due to the use of syngas itself instead of natural gas, which conversely increases heat recovery potential. However, compared to the state-of-the-art demonstrations, the proposed analysis is a significant step towards efficiency improvement, which can be exploited for future biomass demonstrations, attractive for electricity generation as well.