MIGA issued a loan guarantee of $64.8 million, including $14.9 million in reinsurance by the Export Credits Guarantee Department (ECGD) of the United Kingdom, to British Gas Plc., for the development of a gas field in Tunisia. The project is MIGA's first in Tunisia, its first in the gas sector, and its first reinsurance agreement with ECGD. The project involves the construction and operation of offshore platforms at the Miskar gas field, a subsea gas pipeline, and an onshore natural gas processing plant. This gas field is expected to yield about 90 percent of domestic gas production.

The project enterprise, British Gas Tunisia Ltd., is a wholly-owned subsidiary of British Gas Plc. British Gas will employ 255 Tunisian workers and provide extensive operational, safety, environmental, and security training. MIGA insurance covers the risks of currency transfer, expropriation, and war and civil disturbance.