 Solution

ethanol undergoes proton transfer with the methoxide produced. The oxygen lone pair of methoxide attacks the hydroxyl proton of ethanol, while the ethanol O–H bond pair returns to its oxygen:The alcohol acidities are similar, so this is an equilibrium, not an overwhelmingly one-way deprotonation determined solely by intrinsic acidity. The large ethanol reservoir and initially small methanol concentration nevertheless matter. This exchange means that lithium ethoxide need not be consumed stoichiometrically in the net transesterification. Neutral ethanol can also participate in proton shuttling; it is not acting as a reducing reagent or as a substrate for elimination under these conditions.