China Petrochemical Corp (Sinopec) has got the green light from the Russian government to buy a 20% stake in Russian petrochemical and gas company Sibur. The take-over involves two stages: Sinopec will acquire 10% of Sibur for about USD1.34 billion, then buy the other 10% within the next three years. “It could be a good investment if you look at it in the long term,” said Wang Qiang, Senior Analyst at China Galaxy Securities Co. Sibur covers a wide business scope in both the upstream and downstream sectors, making Sinopec a strategic investor. Wang Yupu, Chairman of Sinopec, said earlier that the vertically integrated upstream and petrochemicals business model of Sibur is highly complementary with Sinopec’s businesses.