Dhaka, Jan. 13 -- Preparation is on stream to award a liquefied natural gas (LNG)-supply contract to a truant foreign firm that had previously left Bangladesh without completing a contracted drilling job, sources say, stoking fresh concerns.

Energy-industry insiders say the move towards deal-making with Socar, an Azerbaijani company, has triggered unease, given the firm's controversial track record in the country's oil and gas industry.

State-run Petrobangla is currently negotiating with Socar to select it, without a competitive tender, for LNG supply to Bangladesh for the first time, a senior Petrobangla official told The Financial Express on Tuesday.

Critics fear the decision could expose the country to renewed contractual and supply...