In this episode of the Energy Perspectives Podcast, recorded at the 2025 North American Gas Forum in Washington, D.C., Victor Pascucci III (Co-Founder and Managing General Partner, Energy Capital Ventures) and David Finan (Managing Partner, EIV Capital) join Diana Glassman, Director at Federated Hermes Limited, for a conversation on how capital is flowing into the natural gas value chain.

Pascucci's fund backs innovation across the natural gas ecosystem, from methane management to hydrogen, RNG, and CCUS. Finan's firm invests in lower-to-mid market energy infrastructure across traditional and renewable projects. Glassman brings the perspective of universal-owner pension fund clients representing $2.2 trillion in assets under advisement.

Key Themes:

• Hyperscalers and data centers as a demand-pull moment for natural gas infrastructure

• Why customer contracts, not subsidies, are the real test for any technology

• Emissions measurement and stewardship as drivers of asset value at exit

• "Last mile" infrastructure investment and who pays for the buildout

Note: This episode was recorded in December 2025, some references may no longer reflect current conditions.

Chapters

0:00 Introduction

2:30 The thesis: investing in the natural gas value chain

6:20 From supply push to demand pull

11:08 Technology is energy now

13:37 Where venture capital meets natural gas

14:46 Companies have to stand on their own

19:45 Emissions stewardship and exit value

23:08 Regulators and hyperscalers

25:43 Who pays for the buildout

27:30 Closing

Learn more about the North American Gas Forum: https://energy-dialogues.com/events/north-american-gas-forum/

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