Current report filing

Restricted Cash

v3.8.0.1
Restricted Cash
 12 Months Ended
Dec. 31, 2017
Restricted Cash [Abstract]  
Restricted Cash
RESTRICTED CASH
 
Restricted cash consists of funds that are contractually restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. As of December 31, 2017 and 2016, restricted cash consisted of the following (in millions):
 
 
December 31,
 
 
2017
 
2016
Current restricted cash
 
 
 
 
SPL Project
 
$
544

 
$
358

Cheniere Partners and cash held by guarantor subsidiaries
 
1,045

 
247

CCL Project
 
227

 
197

Cash held by our subsidiaries restricted to Cheniere
 
64

 
58

Total current restricted cash
 
$
1,880

 
$
860

 
 
 
 
 
Non-current restricted cash
 
 
 
 
CCL Project
 
$
—

 
$
73

Other
 
11

 
18

Total non-current restricted cash
 
$
11

 
$
91



In February 2016, Cheniere Partners entered into the $2.8 billion credit facilities (the “2016 CQP Credit Facilities”). Cheniere Partners, as well as Cheniere Investments, SPLNG and CTPL as Cheniere Partners’ guarantor subsidiaries, are subject to limitations on the use of cash under the terms of the 2016 CQP Credit Facilities and the related depositary agreement governing the extension of credit to Cheniere Partners. Specifically, Cheniere Partners, Cheniere Investments, SPLNG and CTPL may only withdraw funds from collateral accounts held at a designated depositary bank on a monthly basis and for specific purposes, including for the payment of operating expenses. In addition, distributions and capital expenditures may only be made quarterly and are subject to certain restrictions.