Bubble break-up, gas holdup, and the gas-liquid volumetric mass transfer coefficient are studied in a bubble column reactor with simultaneous injection of a gas and liquid through a T-junction nozzle. The theoretical dependence of bubble break-up and the volumetric mass transfer coefficient on liquid velocity in the nozzle is developed on the basis of isotropic turbulence theory. It is shown that correlations which are developed based on liquid jet kinetic power per nozzle volume explain average gas holdup and the volumetric mass transfer coefficient within an error of 15% for all gas and liquid flow rates and nozzle diameters used, Experiments with a larger scale column, height 4.64 m and diameter 0.98 m, show a transition from homogeneous to heterogeneous flow at a certain liquid flow rate through the nozzle. Liquid composition was found to have a significant effect on gas-liquid mass transfer. A phenol concentration of 20-30 mg/l in water increases the volumetric mass transfer coefficient of oxygen by 100%. This phenomenon may have significance in the chemical oxidation of wastewater.