Roberto Mancini just last week guided his team to a 3-0 Premier League win over that of Kenny Dalglish in what was the first instalment of a January trilogy of games.
The pair will face-off again on 25th January for the second leg at Anfield and it was only City's defeat by Manchester United which prevented a fourth match of the season in the FA Cup later this month.
Premier League leaders City go into the semi-final as favourites and no doubt determined to respond to the dramatic 3-2 loss to United at the weekend, when they played the majority of the match with 10 men to actually come out with immense pride.
Liverpool, though, have treated the Carling Cup with comparative seriousness this season and Dalglish clearly views the competition as an ideal opportunity to rid his club of an almost six-year trophyless monkey on their back.
Stretched
The Reds will also be focused on offering a reaction to the miserable league loss at City, when they delivered one of their least impressive performances of the campaign and were beaten by goals from Sergio Aguero, Yaya Toure and a James Milner penalty.
Liverpool will also be boosted by facing what will be a weakened City team missing captain Vincent Kompany through suspension, following his red card against United, and both Toure brothers due to the African Cup of Nations.
Indeed Mancini has been bemoaning the fixture congestion and claiming his squad is stretched to its limits, despite still being able to cast off the likes of Carlos Tevez and Wayne Bridge.
City will be without captain Kompany after a failed appeal to the Football Association regarding the four-match ban for his red card against United.
The absence of Kolo Toure therefore comes as a blow and either Stefan Savic or Pablo Zabaleta will likely have to play at centre-back.
Strong
Yaya Toure is also away on international duty, while there are injury concerns over David Silva (ankle), Edin Dzeko (knee) and Mario Balotelli (ankle).
Midfielder Gareth Barry returns from suspension after being sent off for two bookable offences in the Premier League win over Liverpool.
Dalglish is likely to revert to his strongest possible line-up, but will, of course, still be missing Luis Suarez, as the Uruguayan serves the fourth game of his eight-match suspension.
Skipper Steven Gerrard is in line to start having played 90 minutes in the FA Cup win over Oldham on Friday.
Former City striker Craig Bellamy could also be in contention for a place in the first XI having only been a substitute in the league.
Dalglish also has to decide whether to recall Andy Carroll, who scored as a late substitute against Oldham, amid reports Liverpool could be prepared to sell the £35million striker.