Master Alchemist Talent

The Master Alchemist talent is a talent of the Alchemy skill tree and is described in the core rulebook page 58.

It says when I have the Master of Formulae talent for a petty enchantment and when working on this petty enchantment with reagents I may roll a [CD] and if I roll an effect I have prevented the waste of much of the reagent.

Does it mean that I save ONE ingredient then?

The most petty enchantments cost only 1 ingredient (is that for all difficulties or ONE ingredient per tier?) (see the errata and the core rulebook page 163).

So, would I then, when I roll an effect get the petty enchantment crafted without having to pay an ingredient?