This can get Kinder complicated: Kinder Morgan Management (KMM) was created by pipeline operator Kinder Morgan, Inc. to be the limited partner in Kinder Morgan Energy Partners (KMP). KMM oversees and manages KMP's business segments: pipelines that transport refined petroleum products (including gasoline, diesel, jet fuel, and natural gas liquids); natural gas pipelines; pipelines that transport carbon dioxide for oil field use; bulk terminals that handle coal, petroleum coke, and other products; and liquids terminals that handle refined petroleum products and chemicals.
The shareholders of KMM receive distributions in the form of additional shares equivalent in value to the cash distributions received by KMP common unitholders.
The company works in tandem with its general partner Kinder Morgan G.P. Knight controls KMM and, indirectly, KMP. – less