The left back is out of contract at Anfield in the summer and is free to talk to foreign clubs from January.
Liverpool would like to recoup some of the £12million they paid for the 26-year-old rather than lose him for nothing, however, Sevilla are unsure whether to risk splashing out in January rather than wait until the summer.
Moreno would be keen on a return to the club where he began his career though there is interest from elsewhere.
The former Spain international has failed to convince Jurgen Klopp he can hold down a permanent place in his side with the defensive side of his game the main downfall.
Moreno made 27 appearances last season and three so far this term with Andrew Robertson establishing himself as Klopp's first choice.