Quarterly report pursuant to Section 13 or 15(d)

Restricted Cash and Cash Equivalents

v3.23.2
Restricted Cash and Cash Equivalents
6 Months Ended
Jun. 30, 2023
Restricted Cash and Cash Equivalents [Abstract]  
Restricted Cash and Cash Equivalents RESTRICTED CASH AND CASH EQUIVALENTS
 
Restricted cash and cash equivalents consisted of the following (in millions):
June 30, December 31,
2023 2022
Restricted cash and cash equivalents
SPL Project $ 241  $ 92 
CCL Project 152  738 
Cash held by our subsidiaries that is restricted to Cheniere 247  304 
Total restricted cash and cash equivalents $ 640  $ 1,134 

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.