The Anfield stopper bundled the ball back over his own goal-line after Gunners new boy Marouane Chamakh flicked a late header against the post to level the score in his side’s Premier League opener against the Emirates Stadium side.
But England international Gerrard believes the 27-year-old will make up for his error over the course of the coming campaign.
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"For me he is one of the best 'keepers in the world and he will certainly make up for that during the season," Gerrard told Liverpool’s official website.
"He is worth a lot of points to this football club, there is no two ways about it. I'm not making excuses but he was unlucky and I think the sun played a big part.
"But somewhere down the line, we will be winning 1-0 or drawing and he will make a world class save - that's what he does.
"There is no finger pointing here. Everyone can walk away from the game with their heads held high and be proud of the performance."
Liverpool will look to bounce back from the disappointment of Arsenal's late leveller in their next match, a home tie with Turkish side Trabzonspor in the final qualifying round of the Europa League on Thursday evening.
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