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This paper presents a new two-terminal impedance-based fault location algorithm, which takes into account the distributed parameter line model. The algorithm utilizes unsynchronized measurements of voltages and currents from two ends of a line and is formulated in terms of the fundamental frequency phasors of symmetrical components of the measured signals. First, an analytical synchronization of the unsynchronized measurements is performed with use of the determined synchronization operator. Then, the distance to fault is calculated as for the synchronized measurements. Simultaneous usage of two kinds of symmetrical components for determining the synchronization operator makes that the calculations are simple, noniterative and at the same time highly accurate. The developed fault location algorithm has been thoroughly tested using signals of ATP-EMTP versatile simulations of faults on a transmission line. The presented evaluation shows the validity of the developed fault location algorithm and its high accuracy.