Quarterly report pursuant to Section 13 or 15(d)

Restricted Cash and Cash Equivalents

v3.22.2.2
Restricted Cash and Cash Equivalents
 9 Months Ended
Sep. 30, 2022
Restricted Cash and Cash Equivalents [Abstract]  
Restricted Cash and Cash Equivalents RESTRICTED CASH AND CASH EQUIVALENTS
 
Restricted cash and cash equivalents consist 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. Restricted cash and cash equivalents consisted of the following (in millions):
September 30, December 31,
2022 2021
Restricted cash and cash equivalents
SPL Project $ 195  $ 98 
CCL Project 202  44 
Cash held by our subsidiaries that is restricted to Cheniere 437  271 
Total restricted cash and cash equivalents $ 834  $ 413 

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 Liquefaction Projects and other restricted payments. The majority of the cash held by our subsidiaries that is restricted to Cheniere relates to advance funding for operation and construction needs of the Liquefaction Projects.