Quarterly report pursuant to Section 13 or 15(d)

Restricted Cash

v3.20.1
Restricted Cash
3 Months Ended
Mar. 31, 2020
Restricted Cash [Abstract]  
Restricted Cash RESTRICTED CASH
 
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 March 31, 2020 and December 31, 2019, restricted cash consisted of the following (in millions):
 
 
March 31,
 
December 31,
 
 
2020
 
2019
Current restricted cash
 
 
 
 
SPL Project
 
$
109

 
$
181

CCL Project
 
94

 
80

Cash held by our subsidiaries restricted to Cheniere
 
227

 
259

Total current restricted cash
 
$
430

 
$
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.