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Tellurian reports revenues that top estimates, expected earnings loss

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Nov 6 (Reuters) - U.S. liquefied natural gas (LNG) company Tellurian Inc reported revenues on Friday that beat estimates and earnings that matched them.

In what has been a tough year for the LNG industry due to coronavirus demand destruction, Tellurian said its earnings per share were minus 10 cents in the third quarter.

That matched analysts' estimates and compared with a loss of 18 cents per share in last year's third quarter, according to data from Refinitiv.

Tellurian said its sales hit $7.3 million in the quarter, which topped the $6.7 million analysts estimated but fell short of the $9.3 million posted during the year-ago quarter.

Tellurian did not say in its earnings release when it plans to make a final investment decision to build its proposed Driftwood LNG export plant in Louisiana.

The company, which has said in the past that it plans to make that decision next year, did include a presentation on Friday that showed expected cash flow "at commercial operations in 2026."

Officials at the company were not immediately available for comment.

Tellurian is one of several LNG developers that have put off making a final investment decision because it is tough to find customers in a world with low natural gas prices due to coronavirus demand destruction and warm winters that have reduced heating use over the past couple of years.

At the start of 2020, a dozen or so developers, including Tellurian, said they planned to make final investment decisions by the end of the year. Currently, however, that total is down to just two, and analysts said they expect only one project to actually go forward this year.

Earlier this year, Tellurian took steps to reduce the cost of the first phase of the Driftwood plant by around 30% to roughly $16.8 billion by deferring some planned pipelines.

(Reporting by Scott DiSavino; editing by Jonathan Oatis)