TBZ is an archive file that compresses data files using BZIP compression technique. TBZ is associated with UNIX and Linux based Operating Systems. It is basically a TAR archive. This file is archived as TAR in UNIX and then it is compressed with BZIP compression.
7z is an archive format which was introduced 1999 with the 7-Zip open source file archiver. 7z is a container format which supports a variety of compression and encryption algorithms. Some examples are: bzip2, LZMA2 and LZMA.