Qatar has agreed to lower gas price for India, and waive off 1.5 billion dollar penalty for lower offtake. Petroleum Minister Dharmendra Pradhan said this while addressing a press conference in New Delhi this afternoon. He said India will buy additional one million tonne per annum of Liquefied natural gas, LNG from Qatar at new pricing formula. Mr Pradhan also informed that LNG prices will fall by about 5.50 US dollar per million British Thermal Units after Qatar agrees to reflect slump in energy rates in India gas deal.