The interfacial tensions between methane and aqueous solutions of different contents of VC-713 (a terpolymer of N-vinylpyrrolidone, N-vinylcaprolactam, and dimethylamino-ethyl-methacrylate) were measured at different temperatures and pressures in the hydrate formation region. The surface adsorption free energies of methane were calculated accordingly in order to investigate the effect of this kinetic inhibitor on the nucleation of hydrate. The results show that the presence of VC-713 lowers the interfacial tension, increasing the concentration of methane on the surface of the aqueous phase, and thus promotes nucleation of hydrate at the gas/liquid interface. Additionally, the measured interfacial tension data suggest that VC-713 tends not to form micelles in water. Subsequently, the lateral growth rate of hydrate film on the surface of a methane bubble suspended in the aqueous phase was measured at different pressures to investigate the effect of VC-713 on the growth of hydrate. The results show that the lateral growth rate of hydrate film from aqueous VC-713 solution is much lower than that from pure water, demonstrating that VC-713 significantly inhibits the hydrate growth. The mechanism of the inhibition is also discussed.