Mike, the plug needs some anti-seize on the threads. I use Locktite's, which is copper based. This helps to ensure that the male threads don't seize into the female threads, so that the plug can be removed if necessary.
As the plug should be gas tight, I would assume that it should also be water tight.
Hope we have been able to help you. If that plug is loose, get someone with experience to fit a new, tight one. Not an easy job, takes some finicking around, but not terribly difficult either,