Online relationships build quickly, because there is an overly amplified feeling of intimacy. You can say anything you want. They can't see your shortcomings. They cannot sense your insecurity. You feel more alive, because they cannot really judge you ~ only what you choose to present to them. And they are doing the same with you. I would tell him that you like what you know about him so far, but you don't know him well enough to love him yet. Ask him if he wants to meet you in a very public place with lots of people around to keep you safe. Now, since you live far away from each other, this may just be a fantasy for him. He is enjoying the closeness you share online and telling you that it makes him feel love for you.
Either way, never tell someone that you love them if you don't. If his telling you he loves you makes you uncomfortable, then you might want to end the chatting. If you were smart, then this person doesn't know where you live. Be safe.