Experiments conducted in 0.15 m diameter bubble columns using water and non-aqueous liquids have shown that the gas velocity at which transition from the bubbly flow to the churn-turbulent flow regime occurs is a function of gas density. The transition velocity increased with increasing gas density. The direct effect of gas density on gas holdup in the bubbly flow regime is small with only a slight increase in holdup being observed at higher densities (epsilon(G) alpha rho(g) 0.04). In the churn-turbulent region a much greater effect of gas density on gas holdup was observed. These differences were found to be a direct function of the differences in holdup values at the transition points. Gas holdup was found to be a function of the gas phase momentum. In the bubbly flow regime holdup was directly proportional to momentum while in the chum-turbulent regime holdup was proportional to momentum to the one third power. Reasons for this behaviour are discussed, as well as the implied effects on liquid mixing in bubble column slurry reactors. The effects of gas density may offer an explanation for some apparently anomalous published results.