The 29-year-old joined the Royals on a free transfer from Fulham and he enjoyed a bright start to the current season.
However, he has since struggled to justify his £65,000 per week wages and there is every chance he will be leaving at the end of the current campaign.
A number of clubs from Russian Premier League are reportedly prepared to offer Pogrebnyak an escape route from Madejski, but Zenit are believed to be leading the race.
They could stay without star striker Alexander Kerzhakov at the end of the season and are convinced Pogrebnyak would be a perfect replacement for the former Sevilla striker.
Pavel Pogrebnyak has scored just 5 goals in 22 Premier League appearances for Reading and was recently slapped a three-match ban for a horror tackle on Maynor Figueroa.