Quarterly report pursuant to Section 13 or 15(d)

Restricted Cash

Restricted Cash
9 Months Ended
Sep. 30, 2020
Restricted Cash [Abstract]  
Restricted cash consists of funds that are contractually or legally restricted as to usage or withdrawal and have been presented separately from cash and cash equivalents on our Consolidated Balance Sheets. As of September 30, 2020 and December 31, 2019, restricted cash consisted of the following (in millions):
September 30, December 31,
2020 2019
Current restricted cash
SPL Project $ 157  $ 181 
CCL Project 145  80 
Cash held by our subsidiaries restricted to Cheniere 220  259 
Total current restricted cash $ 522  $ 520 
Pursuant to the accounts agreements entered into with the collateral trustees for the benefit of SPL’s debt holders and CCH’s debt holders, SPL and CCH are required to deposit all cash received into reserve accounts controlled by the collateral trustees.  The usage or withdrawal of such cash is restricted to the payment of liabilities related to the SPL Project and the CCL Project (collectively, the “Liquefaction Projects”) and other restricted payments. The majority of the cash held by our subsidiaries restricted to Cheniere relates to advance funding for operation and construction needs of the Liquefaction Projects.