Polish government has adopted a draft law concerning shale gas extraction in a bid to regulate extraction activities as well as reduce Polish dependence on Russian gas supply.

Aimed to attract investment into shale gas extraction in Poland, the regulations still need to be passed by the parliament.

Polish Prime Minister Donald Tusk said the government primary commitment is to "radically accelerate work on the exploration and production of the shale gas," according to local media reports.

Moreover, Tusk announced that investors are to be exempt from taxation for extracting shale gas until 2020.

He said taxation on shale gas exploration should not be higher than 40 percent after 2020.

The prime minister said the law would simplify administrative procedures, including licensing.

Shale gas is natural gas that is trapped in porous shale rock. It needs to be extracted through the process of hydraulic fracturing, which means pumping huge amounts of water in horizontal wells drilled in the rock. By crushing the rock, gas is released.

Recent studies revealed that Poland is the country with the largest reserves of shale gas in Europe, according to media reports.

According to a report released in 2012 by the National Geological Institute, Poland's estimated shale gas reserves are between 346 billion and 768 billion cubic meters -- enough to supply the country for 35-65 years.

Natural gas in Poland makes up 13 percent of the generated primary energy, while high consumption of coal covers more than 80 percent of the domestic demand for energy.

The exploitation of Polish shale gas reserves would help the country to diminish its reliance on Russian energy and reduce Russian domination over the gas market, according to analysts.

Some questions have also been raised however as far as the environment protection is concerned. Because the fracturing method causes ground water contamination and contributes to raise the CO2 levels in the atmosphere.