I want to create License Management Org (LMO). Can I do it without having Parnter Portal? Can I make any dev org as LMO?
You can't use LMA/LMO without being part of the Salesforce Partner Program.
Be aware that the Salesforce Partner Portal (the one for ISV/consulting partners of Salesforce) is not the same thing as Salesforce's Partner Portal (the app that customers of Salesforce can use to manage their own partners, and which they must pay a license fee for).
The partner portal you need access to to get LMA/LMO is also known as Partnerforce, the name I prefer since it avoids this confusion. You get access to this once you sign up as a Salesforce partner. You must have access to it to get LMA because the very first step in installing LMA is to file a Partner case via Partnerforce.
Salesforce tells you not to make a dev org an LMO if it's being used for developing a managed package, but outside of that I'm not aware of other dev org restrictions. I would strongly recommend against using a dev org for your LMO - IMO your LMO should be the same org you manage your sales/customer service from, and there are many reasons that should not be a dev org. If you're a Salesforce partner you'll get a full CRM org for free, which you can use for this.