MOSCOW -- Russian gas giant Gazprom said Thursday that it has renewed the contract on natural gas delivery with its Ukrainian partner Naftogaz.

The two energy companies agreed to set the final price for gas supplies at $247.18 per 1,000 cubic meters, which is valid till the end of the second quarter of this year.

Kiev also confirmed the deal.

According to Gazprom CEO Alexei Miller, the deal sets the new gas price while leaving intact the other clauses of the so-called "winter package" which expired on Tuesday.

The new agreement made it economically senseless for Ukraine to start reverse gas delivery from Europe, which Kiev was ready to do if the negotiations with Gazprom failed.

Under the winter package struck in October under the mediation of the European Union, Ukraine pays Russia 329 US dollars per 1,000 cubic meters in the first quarter of 2015, which is about 100 dollars below the regular price.