KINDER MORGAN ENERGY PARTNERS, L.P. AND SUBSIDIARIES
   EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
          (Dollars In Thousands Except Per Unit Amounts)

FOR THE THREE MONTHS ENDED MARCH 31,                   2005         2004
================================================================================
Weighted-average number of limited partners'
units on which limited partners' net income
per unit is based:
Basic                                                  207,527,852  192,512,217

Add:  Incremental units under common unit
option plan                                                 55,669       89,401
- --------------------------------------------------------------------------------
Assuming dilution                                      207,583,521  192,601,618
================================================================================
Net Income                                            $    223,621 $    191,754
- --------------------------------------------------------------------------------
Less: General Partner's interest in Net Income            (111,727)     (91,664)
- --------------------------------------------------------------------------------
Limited Partners' interest in Net Income              $    111,894 $    100,090
================================================================================

Limited Partners' Net Income per unit:
Basic                                                 $        .54 $        .52
Diluted                                               $        .54 $        .52