When you have this construct:
. . . is a key factor in the making and controlling of the water.
Should you leave only the last verb in the gerund:
. . . is a key factor in the make and controlling of the water.
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You need to say "making and controlling".
What you have there is a parallel structure. A parallel structure is basically when you condense multiple sentences varying in only one item down to a single sentence with a list of the varied items:
I entered the marathon. I entered the decathlon. I entered the pole vault.
I entered the marathon, decathlon, and pole vault.
When you form a parallel structure, all the elements in the parallel MUST be in the same grammatical form: all nouns, all gerunds, all infinitive verbs, all prepositional phrases, etc. No mixing and matching is allowed.