Best possible outcome for Sweden in the great nordic war

As a Swedish history geek the great nordic war interests me immensely and I find myself thinking about the best possible outcome for Sweden in the war.

The problem is that Sweden would preferably want do consolidate their baltic possessions, possibly add some, while somehow not making Russia an eternal enemy. Can you see a way for Sweden to achieve this?

On the other side of Scandinavia; what would be the likeliest scenario where Sweden manages to annex Norway?
 
The main problem is Charles XII. An ordinary ruler could have made peace anytime, and gained or lost some territories, but he would not do that. Instead he was fixated on some major objectives that had to be realised.

If we take him out of the picture and focus on Sweden as a power, then we could have had any result, really.

Sweden might have made an early offensive against Russia, perhaps advancing over Pskov and Novgorod and a bit further.

Without demanding that Augustus gives up being King of Poland, something could have been negociated that he would have accepted longterm, such as giving up Lithuania, in part or full.

So, in the early war, Sweden taking the whole of Lithuania was proposed by Saxony, so that could have been agreed upon, while Sweden taking all of Poland-Lithuania might have been militarily possible, but holding it failed 50 years earlier and would be even more probable this time with both Saxony involved and the more active Russian front.

If we then could have a Swedish-Russian war only, at least after 1702, then things might be brighter for the Swedes there. Russia had greater resources but needed to train its military, and if the Swedes try to achieve a limited expansion nearby in a short time, while denying the Russians any possibilities of victories, we might have a peace in 1705 or so with Sweden taking some lands along the border.

(A ficticious war could of course have been a worse disaster for Sweden, but the question was not about that.)

Historically, Charles was no conqueror, so he only took Courland as a new province, while installing a weak non-self-sustainable puppetking in Poland-Lithuania. Against Russia he might have done the same, but we do not know, and it failed anyhow.

In the later parts of the war, better peace deals could have been done, or new alliances. If negociations had been continuous, and there had been room for negociations, much could have been different.

A peace after Perevolotchna 1709 would leave Estonia and Latvia in Swedish hands, but that was offered still in 1718, against payments. After 1710, Viborg and Narva might not have returned to Sweden unless they were recaptured.
 
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