Restricted Cash

6 Months Ended

Jun. 30, 2021

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 June 30, 2021 and December 31, 2020, restricted cash consisted of the following (in millions):



	June 30,		December 31,
	2021		2020
Restricted cash
SPL Project	$	65	$	97

CCL Project	122		70
Cash held by our subsidiaries that is restricted to Cheniere	237		282
Total restricted cash	$	424	$	449

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.