Abstract: A subcooling condenser/receiver is provided upstream of and proximate to an expansion device in a refrigeration loop, the condenser/receiver having an inlet for receiving cooled refrigerant, a receiver for accumulating the refrigerant, an integral suction line to subcool the refrigerant, and an outlet for discharging the accumulated refrigerant to the expansion device. Because the suction line is integral to the receiver, the cooled refrigerant is in thermal communication with the spent refrigerant. In order to condense and accumulate refrigerant in the receiver the subcooling condenser/receiver has a flow restricting structure which produces a pressure drop between the subcooling condenser/receiver inlet and the receiver. A liquid seal is formed at the subcooling condenser/receiver in the high pressure line extending from the compressor to the expansion device. This arrangement reduces pressure losses in the high pressure line thus improving the volumetric flow efficiency.